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Hess : BRIEF: Area Hess stations switch to Speedway

08/22/2015 | 10:02am US/Eastern

Aug. 22--Hess gas stations in the local area are being switched over to Speedway stations as part of an overhaul following a 2014 acquisition.

Speedway LLC, a subsidiary of Marathon Petroleum Corp., acquired Hess Corp.'s retail operations in September 2014.

The $2.82 billion transaction adds the New York City-based Hess Corp.'s 1,256 stores across 16 East Coast states to Ohio-based Speedway's 1,480 stores, which are mostly in the Midwest.

According to a 2014 media release from Speedway, the acquisition puts the company "close to the top of the retailer food chain."

The deal gave Speedway three years to rebrand the Hess sites. In January, the company reported that it was "steadily making progress" on the process, with 86 Hess sites converted between October and January.

The company pledged $410 million toward the process, which is to be complete by 2017.

___

(c)2015 The Daily Star (Oneonta, N.Y.)

Visit The Daily Star (Oneonta, N.Y.) at www.thedailystar.com

Distributed by Tribune Content Agency, LLC.

© Tribune Content Agency, source Regional News

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