NEW PHILADELPHIA, Ohio -- Speedway SuperAmerica LLC (SSA) has entered into an agreement with family-owned convenience store and gasoline wholesale company Buchanan Independent Oil Co., New Philadelphia, Ohio, to purchase its 14 convenience stores that operate under the name of Bucky Mart in the East Central Ohio area.
It is not clear if the sale also includes the company's wholesale distribution arm, which supplies gasoline to many gas stations in the region, according to the Dover-New Philadelphia Times Reporter.
Buchanan Independent [image-nocss] Oil was established in 1937 by W. Vern Bucky Buchanan. The stores were named Bucky Marts in Buchanan's honor after he left the company.
Buchanan Independent Oil and Speedway SuperAmerica did not respond to requests for commentby presstime.
The transactionfacilitated by Effingham, Ill.-based American Business Brokers and Normal, Ill.-based WJF Servicesis subject to customary closing conditions. The deal is expected to close by the end March, they said.
The terms of the agreement were not being disclosed by any of the parties involved in the sale.
American Business Brokers specializes in the buying and selling of gas stations, c-stores and truckstops.
Buchanan Independent Oil is owned and operated by Bill Duerig and Carol Goodwin.
Headquartered in Enon, Ohio,Speedway SuperAmerica said it is the third-largest company-owned and company-operated c-store chain in North America. At year-end 2004, it had approximately 1,670 locations in nine states. Most of the stores are operated under the Speedway and SuperAmerica brand names. It is a subsidiary of MarathonPetroleum Co. LLC, Houston.
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