2012-02-09 22:30:06 -
FOR IMMEDIATE RELEASE
ENON, Ohio, Feb. 9, 2012 - Speedway LLC (Speedway), and GasAmerica Services,
Inc. (GasAmerica), announced today that they have signed an agreement in which
Speedway will acquire 88 operating locations situated throughout Indiana and
Ohio from GasAmerica, plus several parcels of undeveloped real estate for future
development.
"GasAmerica Services, Inc. has been a successful convenience store chain serving
customers and communities throughout Indiana and Ohio for almost a century,"
said Stephanie White, president and CEO of GasAmerica. "GasAmerica began in
1916 as White Petroleum Company and grew to our current size of 88 locations
through the hard work and dedication of our employees, vendors and the loyal
patronage of our customers. It is a testament to the entire team and the
quality of our operation that Speedway was interested
in acquiring our chain. "
"These stores will be an outstanding addition to the Speedway brand," Tony
Kenney, president of Speedway LLC, said. "They are very well-managed stores that
will complement our existing network, allowing us to better serve customers in
our Indiana and Ohio markets."
"We are pleased that our fleet of convenience store locations and employees will
be under the guidance of a leader within our industry," White continued. "With
Speedway's focus on customer service, the people of Indiana and Ohio who have
supported us over the years will be in very good hands."
The vast majority of locations will be converted to the Speedway brand upon
completing the transaction. As part of the purchase agreement, Speedway will
also acquire all trademarks, trade dress and intellectual property from
GasAmerica. The transaction is anticipated to close by the end of May 2012,
subject to regulatory approvals, customary due diligence and other closing
conditions.
About Speedway LLC
Speedway LLC, headquartered in Enon, Ohio, owns and operates the nation's fourth
largest convenience store chain, with approximately 1,375 locations in seven
states in the Midwest. Speedway is an indirect wholly owned subsidiary of
Marathon Petroleum Corporation (NYSE:MPC). For further information about
Speedway, visit the company's web site at
www.speedway.com.
About GasAmerica Services, Inc.
GasAmerica, headquartered in Greenfield, Indiana is a fourth generation family
owned and operated convenience store chain with approximately 88 stores located
in Indiana and Ohio. GasAmerica has been in business since 1916. For further
information about GasAmerica, please visitwww.gasamerica.com.
Media Relations Contacts
Speedway LLC
Shane Pochard
(419) 421-4327
spochard@marathonpetroleum.com
GasAmerica Services, Inc.
Stephanie White
(317) 468-2515
Stephanie.white@gasamerica.com
###
Speedway_2012:
hugin.info/147922/R/1584426/495698.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Marathon Petroleum Company via Thomson Reuters ONE
[HUG#1584426]