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Minority-Owned Firm Acquires 7-Eleven Licensee: Southland Corp. said the second-largest U.S. operator of licensed 7-Eleven convenience stores was purchased by a new minority-owned company formed by LM Capital Corp. of West Palm Beach, Fla. The company, Convenience Corp. of America, is getting the 7-Eleven licensing rights owned by Contemporary Industries Corp., a privately held company based in Omaha, for an undisclosed amount. The acquisition gives Convenience more than $130 million in annual revenue from the 146 stores it operates in 11 states in the Midwest and Rocky Mountain regions. The company would rank as the sixth-largest minority-owned business in the nation, as measured by Black Enterprise magazine’s 1995 survey of black businesses, the company said.