Speedway Gas Stations Sold To 7-Eleven Parent Company
I'm not sure what this means yet for the Speedway name, but I'm hoping it means free Slurpees on July 11th each year.
WILX reports that 7-Eleven's parent company Seven & i Holdings Co. is buying Speedway gas stations and convenience stores from Marathon Petroleum. All 3,900 Speedway stations will be owned by the Tokyo-based convenience store chain, which currently operates 9,800 7-Eleven stores in the United States and another 21,000 stores in Japan. The company also owns a grocery chain and department store overseas, according to CNN.
There wasn't a lot more information given about the sale, right now, other than they bought the Speedway chain for $21 billion which according to WLIX and CNN is one of the biggest Cash acquisitions announced worldwide since the pandemic hit the world back in early 2020. It also marks the largest deal in Seven & i Holdings Co.'s history.
CNN says that this new deal puts the 7-Eleven brand in 47 of the 50 "most populated metros" across the United States, which sounds like the almost 4,000 Speedways will change to the 7-Eleven Brand. Currently, there's one 7-Eleven location in West Michigan, located in Zeeland.
As I said at the start, this would mean on July 11th (7/11) each year we can now take advantage of the free Slurpees, although this year they didn't let you bring in your own cup or bucket to get free Slurpees because of the coronavirus pandemic.
Although, I now worry about what will happen with my Speedway points that I've racked up over the years?