Speedway Closes Acquisition of Hess Fuel Stations
Photo via Corey Seeman/Flickr.
Marathon Petroleum Corp.'s Speedway subsidiary has finalized its acquisition of Hess, which operates the largest chain of gasoline stations and convenience stores on the East Coast. Speedway is the nation's second largest chain of company-owned convenience stores and fueling stations.
Under the deal, Hess stations would all be rebranded as Speedway stations over three years.
Marathon acquired Hess for $2.82 billion in a deal that was initially announced on May 22. The deal also allows Marathon to acquire Hess transport operations and shipper history on various pipelines, according to a Marathon release.