US-based corporate-owned convenience store chain Speedway has entered an agreement with Petr-All Petroleum Consulting to acquire 78 Express Mart locations in the country.
Petr-All Petroleum currently owns and operates convenience stores under the Express Mart brand in the US.
The 78 stores to set for acquisition are located in Syracuse, Buffalo and Rochester markets in New York.
Speedway president Tony Kenney said: “This acquisition is a great strategic fit for Speedway, and consistent with our growth plan.
“These stores will enhance our existing network and expand our brand presence in a key growth market for Speedway.”
Expected to be complete by the end of the third quarter of this year, the deal is subject to the approval of standard regulatory, customary due diligence, and other closing considerations.
All the Express Mart locations will be rebranded to Speedway after the completion of the transaction.
Headquartered in Enon, Ohio, Speedway is a wholly owned subsidiary of Marathon Petroleum.
The convenience store chain currently operates 2,740 stores in 21 states across the US.
