Mergers & Acquisitions

Jacksons to Acquire 63 Speedway Stores

Retailer expands footprint across Western U.S. with purchase from 7-Eleven
Photograph courtesy of Jacksons

MERIDIAN, Idaho — Jacksons Food Stores and Jackson Energy are acquiring 63 Speedway and 7-Eleven convenience stores in California, Arizona and Nevada from 7-Eleven Inc., which recently completed the acquisition of Speedway from Marathon Petroleum Corp. The sites are among the 293 locations that 7-Eleven is divesting to satisfy an agreement with the Federal Trade Commission (FTC).

Anabi Oil, Upland, Calif., also is purchasing sites from Speedway—124 in the Midwest, Northeast, Utah and Florida.

For Jacksons, the acquisition is part of a continued focus on growth and expansion into additional markets across the U.S. West, the company said.

Meridian, Idaho-based Jacksons owns, operates and supplies more than 1.100 stores across nine western states. The transaction will give Jacksons 59 stores in key California markets, many of which will be operating under the Jacksons or ExtraMile by Jacksons brands. The company is vertically integrated, with Jacksons fuel supplied by Jackson Energy, Capitol Distributing providing full-line grocery and supplies. The company recently began selling fresh products produced by Capitol Kitchen.

“Since we opened our first service station in 1975, we have continually focused on the fundamentals of what a store could be, by building a culture that continually innovates and focuses on meeting employee and customer needs,” said John Jackson, founder and CEO of Jacksons Food Stores. “Today, we build on this legacy by adding more talented associates and great locations to the Jackson family of companies to broaden who we serve and how we serve them.”

Earlier this month, Irving, Texas-based 7-Eleven closed on the $21 billion acquisition of the Speedway c-store chain from Marathon Petroleum, Findlay, Ohio, even as the FTC raises issues over the deal’s legality. 7-Eleven maintains that the deal was legal and that it has satisfied all of the required closing conditions, including the required divestments.

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