“They are very well-managed stores that will complement our existing network,” says Speedway spokesperson.
Speedway LLC and GasAmerica Services Inc. 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 Co. 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,” said Tony Kenney, president of Speedway LLC. “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.
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.