Speedway Closes on Express Mart Acquisition

Source Press
Company Marathon Energy Corporation 
Tags Asset Deals, Deals, Refining & Marketing Activities
Date November 06, 2018

() Speedway LLC has closed on the purchase of Petr-All Petroleum Consulting Corp.’s 78 Express Mart convenience-store and petroleum marketing assets.

Speedway signed an agreement April 16 for the purchase of Syracuse, N.Y.-based Petr-All’s stores, located primarily in the Syracuse, Rochester and Buffalo, N.Y., markets.

"This acquisition is a great strategic fit for Speedway and consistent with our growth plan," said Speedway President Tony Kenney when the company announced the deal. "These stores will enhance our existing network and expand our brand presence in a key growth market for Speedway."

The stores will be rebranded to Speedway, the company said.

In October, Marathon Petroleum agreed to divest four Speedway and one Express Mart c-stores in New York to Sunoco LP to settle Federal Trade Commission charges that the acquisition of Express Mart would violate federal antitrust law.

Source: EvaluateEnergy® ©2019 EvaluateEnergy Ltd