Local Hess Gas Stations Rebranded, Part of Last Year’s $2.34B Acquisition by Speedway

Published Monday, September 21, 2015 at 1:25 am

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By Jesse Wood

Last year Speedway LLC, a subsidiary of Marathon Petroleum Corp., purchased Hess’ retail and transport operations and assets for $2.37 billion.

If that acquisition went under the radar a year ago, it’s now visible in the High Country as the former Hess and Wilco-Hess stations were rebranded into Speedway locations over the past few days.

Speedway’s takeover of Hess operations is part of Speedway’s expansion from its Midwest roots into the East. More than 1,200 Hess Express and Wilco-Hess stores will be rebranded as part of this deal.

“This transformative acquisition provides Speedway a significant growth platform by expanding our retail presence to 22 states throughout the East Coast and Southeast,” said MPC President/CEO Gary R. Heminger last year when the transaction was announced.

“Growing Speedway’s footprint as a premier convenience store operator into the Eastern U.S. supports our strategic focus of increased investment in our stable cash-flow businesses. We believe targeting the significant synergy potential in this business, including best practices and economies of scale, should drive continued earnings growth into the future and enhance the value proposition to MPC investors.”

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