7-Eleven Acquires Speedway Convenience Stores

IRVING, TEXAS -- 7-Eleven has announced that it has bought Speedway convenience stores from Marathon Petroleum Corporation.

As part of the agreement, 7-Eleven will acquire about 3,900 Speedway stores located in 35 states for $21 billion in cash. 7-Eleven says it is the largest acquisition in the company's history and it will allow them to grow their presence particularly in the Midwest and East Coast.

The transaction is subject to regulatory approvals and closing conditions and is expected to be completed in the first quarter of next year.

7-Eleven is based in Irving, Texas and has about 11,800 stores in North America.

Speedway's website lists 10 stores in the St. Cloud Metro Area, which were recently rebranded as Speedways and formerly called SuperAmerica stores.