A familiar name is buying Speedway convenience stores.
7‑Eleven has announced it has entered into an agreement to acquire 3,900 Speedway stores from Marathon Petroleum Corp. for $21 billion. 7‑Eleven currently has over 9,800 stores in the United States and Canada.
"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 Joe DePinto, president and chief executive officer of 7‑Eleven said in a press release.
Following the transaction, 7‑Eleven said it will have a presence in 47 of the top 50 most populated metro areas in the United States. About 40,000 people will be joining 7-Eleven from Speedway.
The deal is subject to customary regulatory approvals and closing conditions and is expected to be completed next year in the first quarter.
The Speedway gas station and convenience store at 4300 Derry St., in Swatara Township before it closed. August 29, 2019. Dan Gleiter | dgleiter@pennlive.com
Dunkin (formerly Dunkin Donuts) recently announced that it will close approximately 450 locations at Speedway locations by the end of the year, according to USA Today.
There are a number of Speedway stores in the Harrisburg area. Speedway closed locations on Derry Street in Swatara Township and on Jonestown Road in Lower Paxton Township last year.
7–Eleven is based in Irving, Texas, and operates, franchises and/or licenses more than 71,100 stores in 17 countries including a number of locations in the Harrisburg area.
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