FINANCE

Convenience store chain expands New York footprint

BY Marianne Wilson

Speedway is growing through acquisition.

Speedway, a wholly owned subsidiary of Marathon Petroleum Corp., has signed an agreement to purchase 78 store locations held by Petr-All Petroleum Consulting Corporation. These stores are located primarily in the Syracuse, Rochester and Buffalo markets in New York and operate under the Express Mart brand.

“This acquisition is a great strategic fit for Speedway, and consistent with our growth plan,” said Speedway president Tony Kenney, president, Speedway, which operates 2,740 stores in 21 states. “These stores will enhance our existing network and expand our brand presence in a key growth market for Speedway.”

Following the acquisition, the Express Mart stores will be rebranded to Speedway. The transaction is expected to close by the end of the third quarter of 2018.

 

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Amazon cancelled its plans to build a headquarters in New York City. What do you think?