Speedway LLC, a subsidiary of Marathon Petroleum Corp. that is headquartered in Enon, Ohio, has signed a new agreement for the purchase of 78 convenience store locations held by Petr-All Petroleum Consulting Corp.
These stores primarily are located in the Syracuse, Rochester and Buffalo markets in New York and operate under the Express Mart brand.
“This acquisition is a great strategic fit for Speedway and consistent with our growth plan,” said Speedway President Tony Kenney. “These stores will enhance our existing network and expand our brand presence in a key growth market for Speedway.”
Following the acquisition, stores will be rebranded as Speedway. The transaction is anticipated to close by the end of the third quarter of 2018 and is subject to regulatory approvals and other closing considerations.
Speedway is the nation’s second largest company-owned and -operated convenience store chain with approximately 2,740 stores in 21 states.