Short answer: Is Speedway and 7-Eleven the same company?
No, they are not the same company. Speedway is owned by Marathon Petroleum and operates over 4,000 gas stations in the United States. 7-Eleven, on the other hand, is an international convenience store chain with over 71,100 locations worldwide.
Breaking it Down: How Speedway and 7-Eleven are Related
Have you ever been driving on the highway and seen a Speedway gas station nearby, only to notice that there’s a 7-Eleven convenience store right next door? It’s not just a coincidence – these two brands are actually related.
The relationship between Speedway and 7-Eleven can be traced back to 2017 when Marathon Petroleum Corporation (MPC) acquired Andeavor, the parent company of Speedway. MPC is one of the largest petroleum product refiners in the United States, and they saw an opportunity to expand their retail footprint with this acquisition.
But what about 7-Eleven? How do they fit into all of this?
Well, before we dive into that, let’s take a moment to appreciate the incredible success story that is 7-Eleven. Founded in Dallas, Texas in 1927 as an ice house that sold milk, bread, and eggs during extended hours (hence the name), it has now grown into a massive international franchise with over 70,000 stores worldwide.
In fact, did you know that there are more than twice as many 7-Elevens across the globe than there are McDonald’s restaurants? That’s pretty impressive!
So when MPC acquired Andeavor (which owned Speedway), they also inherited their stake in Pilot Flying J, which owns Convenience Store News’ Retailer of the Year-awarded chain of convenience stores and travel centers – including none other than… you guessed it – 7-Eleven! That means MPC indirectly owns a portion of Pilot Flying J which operates more than 680 locations within North America alone.
Talk about brand consolidation! It makes sense from a business perspective – controlling multiple successful brands can lead to greater efficiency across operations and marketing efforts.
Now here’s where things get interesting: Despite owning part of Pilot Flying J (and thus having indirect ownership over some 7-Eleven locations), MPC still operates Speedway stores right next door, giving consumers the illusion of choice between two different brands. But with streamlined inventory and supply chains now shared between certain 7-Eleven locations and Speedway retail outlets, it begs the question of how much choice there really is when it comes down to it.
So, while you may have thought those 7-Elevens next to Speedways were just a coincidence or a franchisee decision – think again! There’s actually a deeper, interconnected relationship between these two convenience store giants than meets the eye.
Next time you stop for gas or a snack, take note of which brand you’re shopping with. You never know who their parent company might be or what other related brands they might own. The world of business can be quite fascinating – even in something as seemingly simple as stopping for a soda and some chips on your road trip!
Is Speedway and 7-Eleven the Same Company? A Step-by-Step Investigation
Are Speedway and 7-Eleven the same company? It’s a question that has been raised time and time again, with many people assuming that because they often appear together or are situated on the same lot, the two brands must be owned by the same organization. But is this really true? Let’s conduct a step-by-step investigation into the matter and find out once and for all.
Step 1: The History of Speedway
To start, let’s take a closer look at Speedway. The company was originally founded back in 1959 under the name “Speedway 79” in Michigan. Since then, it has grown significantly to become one of the largest gas station convenience store chains in America, with over 3,900 locations spread across 36 different states.
Interestingly enough, despite its impressive growth over the years, Speedway has managed to keep much of its corporate history under wraps. Unlike other major corporations that frequently tout their rich heritage and founding stories as marketing tools (think Coca-Cola or Ford), there is relatively little known about what makes Speedway tick beyond basic business details.
Step 2: Examining Ownership
So who owns Speedway? Simply put, it’s complicated. Prior to 2018, Speedway was actually a subsidiary of another popular convenience store chain – Hess Corporation. However, when Hess decided to sell off its retail operations in order to focus on oil exploration and production instead, Marathon Petroleum swooped in to acquire both Hess’ assets AND their subsidiary – Speedway.
Nowadays Marathon Petroleum operates as its own entity entirely separate from Hess Energy. They are responsible for managing not just Speedways but also owning refineries across America which transform crude oil into usable products like gasoline.
Step 3: Analyzing Relations Between Companies
With ownership established it does seem odd how synonymous Speedway and 7-Eleven have become within popular culture. As we know now they’re two totally separate entities operating independently. However, when we take a closer look at their shared presence on the same lots – it’s actually no coincidence.
As it turns out, Speedway and 7-Eleven do have something of a partnership in place. The two companies recognized quite some time ago that not all customers were after the exact same products. On the whole Speedway is more focused on gasoline sales and grab-and-go snacks while 7-Eleven covers everything from fresh hot food to alcohol and cigarettes.
Therefore, in order to draw in consumers who might be looking for items that they don’t typically sell themselves, they’ve come together to create what they call “dual-branded” locations.
These hybrid stores offer both brands, allowing operators to cater directly to more diverse sets of needs. Although this could sound like both companies are working alongside one another for financial gain; truthfully neither company owns or operates each other’s business.
Step 4: Clearing Up Misconceptions
It’s understandable why there has often been confusion around whether or not Speedway and 7-Eleven are owned by
Clearing up Confusion: An FAQ on Speedway and 7-Eleven’s Connection
Speedway and 7-Eleven are arguably two of the biggest names in the world of convenience stores, but just how are they connected? Are they sister companies or is one a subsidiary of the other? These are questions that many people have been asking for years, so we thought it fitting to give you an FAQ on Speedway and 7-Eleven’s connection.
Q: Is Speedway owned by 7-Eleven?
A: No. While there may be some confusion on this point, the truth is that Speedway is not owned by 7-Eleven. However, there is a connection between these two industry giants – in August 2020, 7-Eleven completed their purchase of Marathon Petroleum’s Speedway gas stations for billion.
Q: What does this acquisition mean for each company?
A: For 7-Eleven, acquiring Speedway solidifies its position as one of the world’s largest convenience store chains. The deal adds more than 3,900 locations to its existing network of over 9,000 stores worldwide. On the other hand, the sale allows Marathon Petroleum to focus on refining crude oil into gasoline and other petroleum-based products.
Q: How will customers benefit from this acquisition?
A: Customers will enjoy a wider range of products as both companies’ strengths complement each other. For instance, while Speedway excels at fuel sales and has a strong reputation in Ohio and Michigan where most speedways stations are located, it doesn’t sell Slurpees or hot dogs now it can offer them thanks to being part of the greater network with access to more resources under management experience by Seven-elevens main office.
Q: Will Speedway change its name?
A: It’s not clear whether or not Speedway will change its name after the acquisition. The acquisition agreement calls for no immediate changes in branding; instead incremental modernization using technology infused system Upstream later according to Seven-eleven release online.
Q: So, who owns Speedway now?
A: As of August 2020, Speedway is a subsidiary of 7-Eleven, which is itself owned by Seven & i Holdings Co., a Japanese company.
In conclusion, while there may have been some confusion regarding the ownership structure between Speedway and 7-Eleven, we hope that this FAQ has cleared things up. While these two convenience store chains are not technically sister companies or subsidiaries of one another – it is important to note that there is a connection between them through the recent acquisition. This means great news for customers as they can enjoy an even wider range of products from both industry giants.
