{"id":46014,"date":"2020-02-13T22:20:11","date_gmt":"2020-02-14T03:20:11","guid":{"rendered":"https:\/\/thelehighacresgazette.com\/news\/?p=46014"},"modified":"2020-02-13T22:20:29","modified_gmt":"2020-02-14T03:20:29","slug":"7-eleven-eg-group-reportedly-among-those-eyeing-a-takeover-of-speedway","status":"publish","type":"post","link":"https:\/\/thelehighacresgazette.com\/news\/2020\/02\/7-eleven-eg-group-reportedly-among-those-eyeing-a-takeover-of-speedway\/","title":{"rendered":"7-Eleven & EG Group Reportedly Among Those Eyeing a Takeover of Speedway"},"content":{"rendered":"\n

A few potential suitors have emerged for Speedway LLC as Marathon Petroleum Corp. (MPC) considers the fate of its retail network.<\/p>\n\n\n\n

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In late October, Findlay-based MPC announced it would spin off Speedway, with plans to make the convenience store chain an independent company by year-end 2020, as Convenience Store News previously reported.<\/p>\n\n\n\n

Under the plan, the new Speedway would consist of all of MPC’s company-owned and company-operated convenience stores \u2014 which collectively generate $1.5 billion of annual EBITDA.<\/p>\n\n\n\n

However, reports began to surface in late January that the company had received offers to buy Enon-based Speedway. With approximately 4,000 c-stores, the c-store chain could be worth $15 billion to $18 billion, including debt, as a standalone company.<\/p>\n\n\n\n

Now, Bloomberg is reporting potential buyers: Seven & i Holdings Co. Ltd., parent company to 7-Eleven Inc. and TDR Capital.<\/p>\n\n\n\n

Sources told the news outlet that Seven & i Holdings is working with advisors as it mulls purchasing Speedway, and TDR is interested in merging the chain with one of its portfolio companies, EG Group. U.K.-based EG Group has been very active in the U.S. convenience channel since acquiring The Kroger Co.’s c-store portfolio in April 2018.<\/p>\n\n\n\n

Since that deal, EG Group acquired the Minit Mart chain from Westlake, Ohio-based TravelCenters of America Inc., Columbus, Ohio-based Certified Oil, Syracuse, N.Y.-based Fastrac Markets, and Westborough, Mass.-based Cumberland Farms.<\/p>\n\n\n\n

Representatives for MPC, Seven & i, EG Group and TDR declined to comment to Bloomberg.<\/p>\n","protected":false},"excerpt":{"rendered":"

A few potential suitors have emerged for Speedway LLC as Marathon Petroleum Corp. (MPC) considers the fate of its retail network. In late October, Findlay-based MPC announced it would spin… <\/p>\n","protected":false},"author":8,"featured_media":46015,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[128],"tags":[],"_links":{"self":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/46014"}],"collection":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/comments?post=46014"}],"version-history":[{"count":0,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/posts\/46014\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/media\/46015"}],"wp:attachment":[{"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/media?parent=46014"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/categories?post=46014"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thelehighacresgazette.com\/news\/wp-json\/wp\/v2\/tags?post=46014"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}