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7-Eleven buys Speedway for $21 billion

Speedway has 3,900 locations in the US
7-Eleven is buying Speedway gas stations from Marathon Petroleum for $21 billion.
7-Eleven is buying Speedway gas stations from Marathon Petroleum for $21 billion.(Source: CNN)
Published: Aug. 3, 2020 at 12:38 PM EDT
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(Gray News) – 7-Eleven’s parent company is buying Speedway gas stations from Marathon Petroleum for $21 billion.

Seven & i Holdings Co. is the world’s largest franchiser of convenience-stores and will pick up another 3,900 locations with the purchase.

7-Eleven already operates 9,800 stores in the United States.

The Tokyo-based company has 21,000 convenience stores in Japan.

The cash deal is one of the biggest acquisitions announced since the coronavirus pandemic hit and is the largest in the company’s history.

Copyright 2020 Gray Media Group, Inc. CNN contributed to this report. All rights reserved.

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