Findlay, Ohio-based Marathon Petroleum (parent of the Speedway c-store chain) announced it had purchased San Antonio-based Andeavor Corp. for $23.3 billion in April 2018—past the cutoff for CSP’s 2018 Top 202. Prior to its sale, Andeavor was an integrated marketing, logistics and refining company that operated 10 refineries in the midcontinent and Western United States. Included in Andeavor’s assets was a midstream master limited partnership with about 11,000 miles of crude oil and light-product pipelines. Its retail marketing system included more than 3,200 outlets with fuel brands such as Arco, SuperAmerica, Shell, Exxon, Mobil, Tesoro, USA Gasoline and Giant.
Formerly known as Tesoro Corp., Andeavor changed its name in August 2017, following its $6.4 billion acquisition of El Paso, Texas-based Western Refining Inc. in June 2017. Prior to that sale, Western Refining distributed fuel to about 500 sites, including its owned-and-operated locations as well as its leased or franchised sites.
Source: Convenience Digital Resource Library, Technomic. For benchmarking purposes, store counts are year-end 2017.
Photo courtesy of Chuck Olsen.