Speedway Signs Distribution Deal With Victory E-Cigs
Retailer to carry FIN brand portfolio in all 1,480 convenience stores
ENON, Ohio -- Speedway LLC has signed an agreement to distribute Victory Electronic Cigarettes Corp.'s FIN brand e-cigarette portfolio in all of its convenience stores throughout the United States.
Speedway, based in Enon, Ohio, is the one the largest c-store chains in the United States. With a large, modern footprint, its outlets serve as destination for many on-the-go consumers; the convenience chain is one of the leaders in tobacco and tobacco-related product sales. Speedway will now carry the full FIN brand portfolio of products in all of its approximately 1,480 store locations as one of its flagship brands, offering superior merchandising and in-store marketing to help build the brand with its expanding consumer base.
The deal represents a major step forward for Victory Electronic Cigarettes in its efforts to expand distribution of its products, it said, and the company expects it to have a material impact on revenue.
The deal also continues Victory's efforts to build an industry-leading portfolio of retail distribution partners for its brands in the United States, and builds on its already larger-than-50,000 store distribution footprint in the United States with a new flagship sales partner.
Brent Willis, Victory's chairman and CEO, said, "We are very excited for this new partnership with Speedway, a clear leader in the market. They are a world-class retailer with beautiful bright and clean stores. We believe the FIN premium brand of electronic cigarettes will be an excellent strategic fit for Speedway, as the category accelerates its growth at the expense of lower margin traditional cigarettes. This partnership with Speedway is further validation of Victory's strategy offering retailers a tiered, diversified brand strategy with a portfolio of brand options. The portfolio approach is gaining traction in key expansion markets worldwide, and provides the company with a strong competitive position and enables the greatest value for our business, our customer partners and consumers."
Spring Lake, Mich.-based Victory offers consumers a full product portfolio that incorporates the highest quality and latest technology. It is well-positioned as a low-cost leader, with a differentiated portfolio of leading brands, and a distinct go-to-market approach to accelerate growth and drive significant value for its shareholders. The company owns a range of brands and companies in key markets around the world, and it has applied for patents on its technology.
Speedway, a subsidiary of Findlay, Ohio-based Marathon Petroleum Corp. (MPC), operates its nearly 1,500 c-stores in nine states.