Speedway, a gas station and convenience store chain, is now owned by 7-Eleven Inc, which acquired the brand from Marathon Petroleum in 2021 for $21 billion.
In August 2020, Marathon Petroleum agreed to sell Speedway to 7-Eleven Inc, which is owned by Seven & i Holdings Co., Ltd. The $21 billion acquisition deal closed in May 2021. It was the largest ever deal within the gas station and convenience store industry. The acquisition made 7-Eleven the dominant convenience store chain operator nationally, with over 14,000 stores.
Speedway LLC is headquartered in Enon, Ohio and operates over 2,700 convenience stores and gas stations primarily in the Midwest and East Coast. The chain was previously owned by Marathon Petroleum before being sold to 7-Eleven.
Seven & i Holdings Co., Ltd., is the Japanese parent company of 7-Eleven Inc. You can invest in Seven & i Holdings by searching for the stock symbol SVNDY on Robinhood and other brokers.
For many people who grew up outside of Minnesota, 7-Eleven is a little slice of home. Jodi Ryalls said, “They were in every corner of the neighborhood. You would see them everywhere and it’s like Target is now for me as a teacher.”
Speedway offers fuel discounts for loyalty program members and various other benefits for regular customers.
Marathon Petroleum was the parent company of Speedway. Marathon brand gas stations with convenience stores are available to franchise across the U.S. In fact, Marathon stations are primarily owned and operated by independent entrepreneurs.
Speedway is compliant with all local, state, and federal regulations.
7-Eleven Inc. was ordered to sell 293 gas-station retail stores acquired earlier this year as part of the $21 billion purchase to address antitrust concerns. Speedway is an American convenience store and gas station chain wholly owned and operated by 7-Eleven.
7-Eleven Inc. is owned by Seven & i Holdings Co., Ltd., which is a Japanese company. Following the Speedway acquisition, the company’s U.S. operations significantly expanded with over 14,000 stores.