Speedway's former SuperAmerica stores set to become 7-Elevens
The gas station chain Speedway is set to be rebranded for the second time in as many years as it's set to be bought out by 7-Eleven for $21 billion.
7-Eleven, the world's largest convenience store chain with almost 10,000 stores in the U.S. and Canada, has struck a deal with Marathon Petroleum to buy Speedway's 3,900 locations across 35 states.
Minnesota is one of only 14 states where 7-Eleven doesn't have a presence, but that's set to change with the buyout including Speedway's estimated 285 stores in Minnesota, Wisconsin, and the Dakotas.
It comes less than two years after Marathon bought oil company Andeavor in a deal that saw SuperAmerica stores rebranded as Speedway.
SuperAmerica had its roots in Minnesota, with the brand's first store opening in St. Paul in 1960. 7-Eleven did have a presence in Minnesota till 1989, when the franchisee filed for bankruptcy and 66 stores were sold to SuperAmerica.
The press release announcing the latest deal doesn't specifically confirm that Speedway stores will be rebranded again, but it does hint at it.
"This acquisition is the largest in our company's history and will allow us to continue to grow and diversify our presence in the U.S., particularly in the Midwest and East Coast," said 7-Eleven CEO Joe DePinto.
"By adding these quality locations to our portfolio, 7‑Eleven will have the opportunity to bring convenience to more customers than ever before."
7-Eleven notes that the takeover will now see 7-Eleven have a presence in 47 of the 50 most populated metro areas in the U.S. – adding Minneapolis-St. Paul to its portfolio.
Speedway employs approximately 40,000 people.
