M&A Deal Summary

Speedway Acquires Hess Retail Holdings

On May 22, 2014, Speedway acquired retailer Hess Retail Holdings from Hess for 2.9B USD

Acquisition Highlights
  • This is Speedway’s 3rd transaction in the Retail sector.
  • This is Speedway’s largest (disclosed) transaction.
  • This is Speedway’s 3rd transaction in the United States.
  • This is Speedway’s 1st transaction in New York.

M&A Deal Summary
Date 2014-05-22
Target Hess Retail Holdings
Sector Retail
Buyer(s) Speedway
Sellers(s) Hess
Deal Type Divestiture
Deal Value 2.9B USD

Target

Hess Retail Holdings

New York, New York, United States
Hess Retail Holdings LLC, provides retail and markets gasoline and petroleum refined products.

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Buyer(S) 1

Buyer

Speedway

Enon, Ohio, United States
Category Company
Founded 1997
Sector Retail
DESCRIPTION
Speedway gas station in Pompano Beach, Florida.
Speedway gas station in Pompano Beach, Florida.

Speedway is a US convenience store chain with approximately 3,900 stores located in 36 states. The Company was formed in 1997 and is headquartered in Enon, Ohio.

DEAL STATS #
Overall 3 of 3
Sector (Retail) 3 of 3
Type (Divestiture) 3 of 3
State (New York) 1 of 1
Country (United States) 3 of 3
Year (2014) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-06-05 10 Road Ranger Convenience Stores

United States

10 Road Ranger Convenience Stores are at throughout Ohio and Northern Kentucky provides truck stop and gasoline convenience services.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-01-18 Speedway - Convenience Store

Enon, Ohio, United States

Speedway LLC - Convenience Store is a provider of oil and fuel services in Enon, Ohio.

Sell -

Seller(S) 1

SELLER

Hess

New York, New York, United States
Category Company
Founded 1920
Sector Oil/Gas Exploration
Employees1,545
Revenue 11.3B USD (2022)
DESCRIPTION

Hess is a global integrated energy company engaged in the exploration, production, purchase, transportation and sale of crude oil and natural gas, as well as the production and sale of refined petroleum products. Hess was founded in 1920 and is based in New York, New York.

DEAL STATS #
Overall 12 of 15
Sector (Retail) 1 of 1
Type (Divestiture) 9 of 11
State (New York) 1 of 2
Country (United States) 5 of 7
Year (2014) 3 of 3
Size (of disclosed) 1 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-23 Sinphuhorm and Pailin Fields Project

Thailand

Sinphuhorm and Pailin Fields Project, provides oil and gas exploration services.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-03 Bayonne Energy Center

Bayonne, New Jersey, United States

Bayonne Energy Center is a 512 MW power generation facility under construction in Bayonne, New Jersey, and interconnected at ConEd's Gowanus substation in Brooklyn (New York Zone J). Bayonne Energy Center is based in Bayonne, New Jersey.

Sell $720M
Mergr

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