Speedway Superamerica LLC is one of the largest convenience store chains in the United States, with over 3,900 locations in 36 states. Despite its ubiquity, little is known about the owners of this retail giant. Who are the masterminds behind the operation?
In this article, we delve into the murky world of Speedway Superamerica LLC ownership and uncover the secrets that have remained hidden for too long. From the company’s corporate structure to its financial performance, we leave no stone unturned in our quest to uncover the truth behind this retail giant. Join us as we shed light on the mysterious owners of Speedway Superamerica LLC.
The Corporate Structure of Speedway Superamerica LLC
Speedway Superamerica LLC operates as a subsidiary of Marathon Petroleum Corporation, one of the largest petroleum refining companies in the United States. The corporate structure of Speedway Superamerica LLC is complex, with multiple layers of ownership and management.
At the highest level, Marathon Petroleum Corporation owns Speedway Superamerica LLC, which in turn operates as a holding company for multiple subsidiary entities, including Speedway LLC and SuperAmerica LLC. These subsidiaries, in turn, operate hundreds of individual stores across the United States.
Marathon Petroleum Corporation
Marathon Petroleum Corporation is a Fortune 50 company with operations in petroleum refining, transportation, and marketing. The company’s ownership of Speedway Superamerica LLC is just one piece of its vast portfolio, which includes everything from oil exploration to pipeline transportation. In addition to its ownership of Speedway Superamerica LLC, Marathon Petroleum Corporation also operates its own chain of convenience stores, known as Speedway LLC.
Speedway LLC and SuperAmerica LLC
- Speedway LLC: Speedway LLC is a subsidiary of Speedway Superamerica LLC that operates over 2,700 convenience stores across the United States. These stores offer a wide range of products and services, including fuel, food, and beverages.
- SuperAmerica LLC: SuperAmerica LLC is another subsidiary of Speedway Superamerica LLC, which operates over 300 convenience stores in Minnesota, Wisconsin, and South Dakota. These stores offer a similar range of products and services to those offered by Speedway LLC.
Overall, the corporate structure of Speedway Superamerica LLC is complex but well-organized, with multiple layers of ownership and management working together to support the company’s ongoing success. Whether you’re a customer or an investor, understanding this structure is key to unlocking the full potential of this retail giant.
The History of Speedway Superamerica LLC
Speedway Superamerica LLC, formerly known as Speedway LLC, is an American convenience store and gas station chain founded in 1959 in Michigan. The company was originally named Speedway 79 and was owned by the Ohio Oil Company, now known as Marathon Petroleum Corporation. Over the years, Speedway has grown to become one of the largest convenience store chains in the United States with over 3,900 stores across 36 states.
In 2018, Speedway was acquired by Seven & i Holdings, a Japanese retail company that owns the 7-Eleven chain of convenience stores. The acquisition was completed for a reported $21 billion and made Seven & i Holdings the third-largest convenience store chain in the world. The acquisition also marked the first time that a Japanese company had acquired a major American convenience store chain.
The Early Years of Speedway
- In 1959, Speedway 79 was founded in Michigan by the Ohio Oil Company.
- The company grew to operate over 100 gas stations in Michigan by 1962.
- In 1969, the company changed its name to Speedway and began expanding outside of Michigan.
The Acquisition by Seven & i Holdings
On August 2, 2017, Seven & i Holdings announced that it had entered into a definitive agreement to acquire Speedway for $21 billion. The acquisition was completed on April 23, 2018, making Seven & i Holdings the third-largest convenience store chain in the world with over 60,000 stores across 18 countries.
Since the acquisition, Speedway has continued to operate under the same name and has undergone several changes, including the introduction of new store designs and expanded food offerings. The acquisition has also allowed Seven & i Holdings to expand its presence in the United States and compete with other major convenience store chains.
The Financial Performance of Speedway Superamerica LLC
Speedway Superamerica LLC is one of the largest convenience store chains in the United States, with over 4,000 locations spread across 22 states. The company’s financial performance has been consistently strong over the years, with a steady increase in revenue and profits. In 2020, Speedway Superamerica LLC reported a revenue of $23.5 billion, a 3.3% increase from the previous year. The company’s net income for the year was $747 million, which was a 19.2% increase from the previous year.
The financial success of Speedway Superamerica LLC can be attributed to several factors. The company has a strong brand presence and a loyal customer base, which has helped it to maintain a steady stream of revenue. Additionally, Speedway Superamerica LLC has invested heavily in technology and innovation, which has helped it to improve efficiency and reduce costs. The company has also implemented various initiatives to improve customer experience, such as its Speedy Rewards program and mobile app.
Factors Contributing to Speedway Superamerica LLC’s Financial Performance
- Strong Brand Presence: Speedway Superamerica LLC has built a strong brand presence over the years, which has helped it to attract and retain customers.
- Investment in Technology and Innovation: The company has invested heavily in technology and innovation, which has helped it to improve efficiency and reduce costs.
- Initiatives to Improve Customer Experience: Speedway Superamerica LLC has implemented various initiatives to improve customer experience, such as its Speedy Rewards program and mobile app.
Future Outlook for Speedway Superamerica LLC
Despite the challenges posed by the COVID-19 pandemic, Speedway Superamerica LLC has continued to perform well financially. The company’s focus on innovation and customer experience, along with its strong brand presence, are expected to help it continue to thrive in the years ahead. Additionally, Speedway Superamerica LLC’s parent company, Marathon Petroleum, has announced plans to spin off the convenience store chain into a separate company, which could unlock additional value for shareholders and provide new growth opportunities for Speedway Superamerica LLC.
The Potential Buyers of Speedway Superamerica LLC
Potential buyers of Speedway Superamerica LLC are likely to include a range of players in the convenience store industry, as well as private equity firms and other investors looking to expand their portfolio. The company, which operates more than 3,900 convenience stores in the United States, has attracted attention from potential buyers due to its strong financial performance and established market presence.
One potential buyer could be 7-Eleven, which has been expanding its footprint in the United States through acquisitions. Another potential buyer is Alimentation Couche-Tard, which has made several acquisitions in the convenience store industry in recent years, including Circle K and Holiday Stationstores. Other possible buyers include private equity firms such as Blackstone Group and Carlyle Group, which have shown interest in investing in the retail industry.
Convenience Store Industry Players
- Circle K – Has a significant presence in the United States and has made acquisitions in the past to expand its footprint.
- Sheetz – A family-owned chain with over 600 locations in the Northeast and Mid-Atlantic regions.
- Wawa – A privately held company with more than 900 stores in the eastern United States.
Private Equity Firms
Private equity firms have shown interest in investing in the convenience store industry due to its stable cash flows and potential for growth. Some potential buyers include:
- Blackstone Group – Has experience investing in the retail industry, including acquisitions of malls and shopping centers.
- Carlyle Group – Has invested in several retail companies, including Beats Electronics and Dunkin’ Brands.
Other investors looking to expand their portfolio may also consider buying Speedway Superamerica LLC. These could include:
- Warren Buffet’s Berkshire Hathaway – Has invested in a range of industries, including retail, and has a long-term investment strategy.
- Amazon – Has been expanding its physical retail footprint through acquisitions such as Whole Foods and Amazon Go stores.
The Impact of Speedway Superamerica LLC on the Gas Station Industry
Speedway Superamerica LLC is one of the leading companies in the gas station industry, and its impact has been felt by both consumers and competitors alike. With its extensive network of gas stations, Speedway Superamerica LLC has become a household name, and its influence on the industry cannot be denied. One of the main ways in which Speedway Superamerica LLC has impacted the gas station industry is through its commitment to providing high-quality products and services to its customers. This has set the standard for other companies to follow, and has helped to improve the overall quality of the industry.
Another way in which Speedway Superamerica LLC has impacted the gas station industry is through its innovative business practices. The company has been quick to adapt to new technologies and trends, and has been at the forefront of many industry developments. This has helped the company to stay ahead of the competition and has given it an edge in the market. In addition, Speedway Superamerica LLC has also been committed to sustainability and has taken steps to reduce its environmental impact. This has set an example for other companies in the industry to follow, and has helped to promote more environmentally friendly practices throughout the industry.
Commitment to Quality
- Quality Products: Speedway Superamerica LLC has set the standard for high-quality products in the gas station industry. Its commitment to offering customers the best possible products has helped to improve the overall quality of the industry.
- Excellent Service: Speedway Superamerica LLC is known for its excellent customer service, which has helped to set it apart from the competition. Its focus on providing a positive customer experience has also helped to improve the reputation of the industry as a whole.
Innovative Business Practices
Technology: Speedway Superamerica LLC has been at the forefront of technological developments in the industry. Its adoption of new technologies has helped it to stay ahead of the competition and has allowed it to offer customers new and innovative services.
Sustainability: Speedway Superamerica LLC has taken steps to reduce its environmental impact, including the use of alternative fuels and the implementation of energy-efficient practices. This commitment to sustainability has helped to promote more environmentally friendly practices throughout the industry.
The Future of Speedway Superamerica LLC Under New Ownership
Speedway Superamerica LLC has been a leading player in the gas station industry for many years. In recent news, the company has been acquired by 7-Eleven, Inc. As a result, many are wondering what the future holds for Speedway Superamerica LLC and how the acquisition will impact the gas station industry as a whole.
The acquisition of Speedway Superamerica LLC by 7-Eleven, Inc. marks a significant shift in the gas station industry. With the combination of these two industry giants, there are several potential changes that could take place in the coming years.
One potential outcome of this acquisition is an increased focus on convenience. 7-Eleven is known for its convenience stores and is likely to bring that focus to Speedway Superamerica LLC locations. This could mean expanded food and beverage options, more extensive store hours, and increased product offerings beyond traditional gas station fare.
Another area that could see significant changes is technology. 7-Eleven has invested heavily in technology in recent years, including its mobile app and delivery options. With this expertise, they could potentially bring new technology to Speedway Superamerica LLC locations, such as mobile payment options, ordering ahead, and more.
- The acquisition of Speedway Superamerica LLC could lead to increased competition in the gas station industry as a whole. As 7-Eleven expands its reach, other gas station chains may need to adjust their offerings to remain competitive. This could lead to increased innovation and better offerings for consumers overall.
Overall, the acquisition of Speedway Superamerica LLC by 7-Eleven, Inc. has the potential to bring significant changes to the gas station industry. From increased convenience to technological advancements and increased competition, consumers could benefit from these changes in the coming years.
Frequently Asked Questions
Q: Who owns Speedway Superamerica LLC?
A: Speedway Superamerica LLC is a subsidiary of the Marathon Petroleum Corporation, one of the largest petroleum refining companies in the world. In 2018, the company was acquired by 7-Eleven Inc. in a deal worth $21 billion, making it the largest acquisition in 7-Eleven’s history.
Q: What is the history of Speedway Superamerica LLC?
A: Speedway Superamerica LLC was founded in 1959 in Michigan as Speedway 79 by the Ohio Oil Company. Over the years, the company grew through acquisitions and rebranding efforts. In 1998, it was acquired by Marathon Petroleum Corporation and became a subsidiary of the company.
Q: Where are Speedway Superamerica LLC gas stations located?
A: Speedway Superamerica LLC operates over 4,000 gas stations in 31 states in the United States. The company’s gas stations are typically located along major highways and in densely populated areas.
Q: What services does Speedway Superamerica LLC offer?
A: In addition to gasoline, Speedway Superamerica LLC offers a range of convenience store items, such as snacks, beverages, and tobacco products. Many of the company’s gas stations also feature car washes and quick-service restaurants, such as Subway and Dunkin’ Donuts.
Q: Does Speedway Superamerica LLC offer any loyalty programs?
A: Yes, Speedway Superamerica LLC offers a loyalty program called Speedy Rewards. Customers can earn points on purchases at Speedway gas stations and redeem them for free merchandise, discounts on gas, and other rewards. The program also offers exclusive promotions and coupons to members.