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7-Eleven Buys Speedway… My Thoughts

by | Aug 3, 2020

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The Details

Yesterday, 7-Eleven announced an agreement to acquire Speedway from Marathon Petroleum Corp. As part of the agreement, 7-Eleven plans to acquire ~3,900 Speedway stores located in 35 states for $21B in cash.

Click Here To See The Full Press Release


Will Speedway Be Re-branded As 7-Eleven?


Short-Term (Next 12 Months)

No. 7-Eleven is the largest convenience retail chain in the world & the US. Speedway is the second largest convenience retail chain the US. Looking back to 7-Eleven’s acquisition of Stripes in 2017, the FTC is likely to want to look at this deal for competitive reasons. Additionally, the deal is not expected to close until the first quarter of 2021. At the earliest, it will be 4-7 months before 7-Eleven has control over the Speedway stores. Even after 7-Eleven has control, it would take years to re-brand 3,900 stores.


Long-Term (12+ Months)

Maybe. It is more likely that Speedway gets re-branded though the physical stores are likely to remain Speedway given the brand loyalty from consumers. That said, based off 7-Eleven’s acquisition of Stripes, some parts of 7-Eleven will be introduced into the Speedway brand such as Slurpee’s and other 7-Eleven products. In the reverse, 7-Eleven adopted Stripe’s Customer Experience Visit program. In terms of Speedway, it is likely that the loyalty program (Speedy Rewards) will be rolled into the 7-Eleven 7Rewards Program which is not enticing at all for a gift card reseller. For details on how the current Speedy Rewards program works, see here.


Bottom Line

Longer-term, this is likely the end of the Speedy Rewards program that many gift card resellers have come to enjoy. That said, there is still a slim possibility that 7-Eleven chooses to maintain the Speedy Rewards program though I would not hold my breath based off past actions. Enjoy Speedy Rewards while you can over the coming months.


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Informational7-Eleven Buys Speedway… My Thoughts