Marathon Petroleum's Speedway closes on Hess deal

[Rhiannon12866]

Completes $2.82B purchase of retail operations, other assets

FINDLAY — Speedway LLC, a subsidiary of Findlay-based Marathon Petroleum, has completed its $2.82 billion purchase of Hess’ retail operations and other assets.

The deal was announced in May.

Hess is the largest chain of company-operated gas stations and convenience stores on the East Coast. In May, the companies said that Hess gas stations will all be rebranded as Speedway over three years.

"This transformative acquisition provides Speedway a significant growth platform by expanding our retail presence to 23 states throughout the East Coast and Southeast," said Gary Heminger, Marathon Petroleum’s president and chief executive officer.


Read more at: http://www.toledoblade.com/business/2014/10/01/Marathon-Petroleum-s-Speedway-closes-on-Hess-deal.html

[Historic NY]

1. Looks like those empty boarded up Hess' by me will be opened again..

we have had several places closed here for some time. Appears competition is spurring Mobil to buy up an abandoned Citgo and replace the tanks and pumps. Luk Oil went out and that places is remodled and for sale by bid....lots of activity.

[Rhiannon12866]

2. I heard about this at least a year ago, but Hess stations are still going strong around here

I wondered what was going on. BTW, I'm in the Northeast, about an hour north of Albany.

[JustAnotherGen]

3. Is that the

End of the Hess Truck at Christmas time? I still have four from the 80's that are still in the box.