7-Eleven, Inc. Completes Acquisition of 3,800 Speedway Stores

Rhea-AI Summary

7-Eleven has successfully acquired Speedway, enhancing its position as the largest convenience store chain in North America. The acquisition adds approximately 3,800 stores across 36 states, increasing 7-Eleven's portfolio to around 14,000 locations. This strategic move diversifies 7-Eleven's presence, particularly in the Midwest and East Coast, and positions it in 47 of the 50 largest U.S. metro areas. The integration aims to improve efficiencies and innovate the customer experience.

Positive

• Acquisition of approximately 3,800 Speedway stores enhances market presence.
• Increases 7-Eleven's portfolio to approximately 14,000 stores.
• Diversifies presence in 47 of the 50 largest U.S. metro areas.
• Strategically strengthens 7-Eleven's financial profile for growth.

Negative

• None.

IRVING, Texas, May 14, 2021 /PRNewswire/ -- 7-Eleven, Inc. ("7-Eleven"), the largest chain in the convenience-retailing industry, announced today the successful completion of its acquisition of Speedway, a leading convenience store chain, from Marathon Petroleum Corp. (NYSE: MPC). Speedway's high-quality portfolio includes approximately 3,800 stores located in 36 states across the U.S.

"We are very excited to welcome Speedway into the 7-Eleven family," said Joe DePinto, President and Chief Executive Officer of 7-Eleven. "Speedway is a great brand and a strong strategic fit for our business that significantly diversifies our presence throughout the North American market, particularly in the Midwest and on the East Coast. Together, we have the opportunity to redefine and enhance the customer convenience experience nationwide. This is a groundbreaking moment in our company's proud history."

This acquisition accelerates 7-Eleven's growth trajectory while also strengthening the company's financial profile for continued success. The addition of Speedway brings 7-Eleven's total North American portfolio to approximately 14,000 stores and diversifies 7-Eleven's presence to 47 of the 50 most populated metro areas in the U.S., as well as expands our company-operated store footprint.

The acquisition combines the best of 7-Eleven's premier convenience brand with Speedway's convenience and fuel brands that will create innovative and world-class experiences for our customers. 7-Eleven will also work to maximize efficiencies and optimize relationships with vendors and business partners to ensure a continued legacy of innovation and success.   

About 7-Eleven, Inc.
7–Eleven, Inc. is the premier name in the convenience-retailing industry. Based in Irving, Texas, 7–Eleven operates, franchises and/or licenses nearly 77,000 stores in 16 countries and regions, including nearly 16,000 in North America. Known for its iconic brands such as Slurpee®, Big Bite® and Big Gulp®, 7–Eleven has expanded into high-quality sandwiches, salads, side dishes, cut fruit and protein boxes, as well as pizza, chicken wings and mini beef tacos. 7–Eleven offers customers industry-leading private brand products under the 7-Select™ brand including healthy options, decadent treats and everyday favorites at an outstanding value. Customers can earn and redeem points on various items in stores nationwide through its 7Rewards® loyalty program with more than 40 million members, place an order in the 7NOW® delivery app in over 1,300 cities, or rely on 7–Eleven for bill payment service, self-service lockers and other convenient services. Find out more online at www.7–Eleven.com, via the 7Rewards customer loyalty platform on the 7–Eleven mobile app, or on social media at Facebook, Twitter and Instagram.

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SOURCE 7-Eleven, Inc.

FAQ

What did 7-Eleven acquire from Marathon Petroleum Corp.?

7-Eleven acquired Speedway, a chain of approximately 3,800 convenience stores.

How many stores does 7-Eleven have after acquiring Speedway?

After the acquisition, 7-Eleven's total store count reaches approximately 14,000.

Which regions will 7-Eleven expand into with the Speedway acquisition?

The acquisition strengthens 7-Eleven's presence in the Midwest and East Coast.

What impact does the acquisition have on 7-Eleven's market presence?

It diversifies 7-Eleven's footprint to 47 of the 50 most populated metro areas in the U.S.

When was the acquisition of Speedway by 7-Eleven completed?

The acquisition was completed on May 14, 2021.