The iconic bold green and white Hess logo is making room for another icon, albeit a Midwestern one: Speedway’s red and white logo. Speedway (division of Marathon Petroleum Corp) is acquiring Hess’s retail locations in a new deal that increases Speedway’s reach from nine states to an astounding 23 states. With this change in brand and leadership all Hess retail locations will be completely rebranded within three years.
This deal will yield 2,733 total stores taking Speedway to the top of the industry list when it comes to gas stations chains in the United States. This transaction includes all of Hess’ retail locations, transport and pipeline operations, including approximately 40,000 barrels per day.”This acquisition will be transformative for MPC” said MPC President & CEO Gary Heminger.
Prior to this acquisition, Speedway was the nation’s fourth largest operator of chain stores with 1,480 stores in nine states while Hess was the fifth largest with 1,256 stores in 16 states. President of Speedway, Tom Kenney, said that this deal will make Speedway locations the largest company-owned and -operated convenience store chain in the country.
The deal did not come as a surprise to those who have been following the industry remarks over the past year. This type of merger means the best of both worlds for consumers of these gas chain giants. Last year Gary Heminger stated “Hess had one of the best-looking systems on the East Coast” and that “it would be an excellent fit with Speedway.” This new collaboration is sure to draw in a clientele of car owners looking for a five star fill up experience.
The remodelling of all the newly acquired Hess locations will have complete ‘Speedway’ amenities including the distinct design of the fuel canopy, the all-inclusive convenience store, loyalty programs and charitable giving offerings.
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