It was announced Thursday morning that Sunoco would be selling a majority of its convenience stores to 7-Eleven.

According to a release, 7-Eleven will be paying $3.3 billion in cash plus fuel, merchandise and other inventories for the stores.

Along with the convenience stores themselves the trademarks and intellectual property of the Laredo Taco Company and Stripes are being sold as well.

Sunoco plans to sell 200 of their stores located in North and West Texas, New Mexico and Oklahoma in a separate process.

The transaction is expected to be closed by the fourth quarter of 2017.