Speedway LLC is a wholly owned subsidiary of Findlay, Ohio-based Marathon Petroleum Corp., which was formed in July 2011 as an independent energy company. Previously, MPC was a subsidiary of Marathon Oil Corp.
A big point of difference between Speedway and other major oil companies is that it has differentiated its retail business—Speedway—from its distribution brand, Marathon. Marathon brand gasoline is sold through more than 5,100 independently owned locations across 18 states.
In May 2014, Speedway announced it would acquire Hess Retail Holdings LLC and more than 1,200 Hess locations along the East Coast and WilcoHess sites in the Southeast. The deal closed Sept. 30, 2014, bringing the Speedway store count to more than 2,700 company-owned and -operated locations in 23 states.
Tony Kenney, president, says the acquisition makes Speedway the largest company-owned and -operated convenience-store chain in the country based upon revenue and the second largest by store count. All Hess retail locations will be rebranded to Speedway within three years. Speedway's leadership structure will remain in place, and the headquarters will stay in Enon, Ohio.
Q1 2015 Update
Speedway LLC is making steady progress on rebranding the 1,245 gas stations and convenience stores that were included in the October 2014 acquisition of Hess’ retail portfolio. Speedway has already rebranded 134 sites since the date of the acquisition. The Hess sites are spread across 16 states on the East Coast and in the Southeast. Under the terms of the deal, Speedway has three years to rebrand the sites and is investing $410 million between 2014 and 2017 in the process.
|No. of Stores:||2740|
|Average Store Size:||2,500-4,000 sq. ft.|
|Rank Last Year:||6|
|States of Operation:||Illinois, Indiana, Kentucky, Michigan, Ohio, Pennsylvania, Tennessee, West Virginia, Wisconsin|