Speedway LLC, a wholly owned subsidiary of Marathon Petroleum Corp., announced the signing of an agreement for the purchase of 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. “These stores will enhance our existing network and expand our brand presence in a key growth market for Speedway.”
Following the acquisition, stores will be rebranded to Speedway. The transaction is anticipated to close by the end of the third quarter of 2018, and is subject to standard regulatory approvals, customary due diligence, and other closing considerations.