DK locations in El Paso to become OXXO stores

EL PASO, Texas (KVIA) -- Several convenience stores in El Paso and Las Cruces could soon be operating under new ownership, and potentially under a new name.

FEMSA, which runs the OXXO brand, just entered into definitive agreements with Delek (DK brand) to buy 249 convenience stores, mostly located in Texas.

FEMSA officials say the company is expecting to pay $385 million in the business deal.

FEMSA officials say they are excited to expand the company and build a brand in the US.

DK only recently entered the Borderland, taking over former 7/11 stores a few years ago.

FEMSA currently operates more than 30,000 store locations in Mexico, South America, and Europe, the company's CEO explained.