Speedway becoming 7-Eleven

7-Eleven is buying Speedway giving the company 14,000 stores across the United States and Canada

"As part of the agreement, 7-Eleven will acquire approximately 3,900 Speedway stores located in 35 states, for $21 billion in cash", according to a release from 7-Eleven, Inc. Japanese retail giant Seven & i Holdings - which owns 7-Eleven and other outlets, including supermarket chain Ito-Yokado and the Sogo and Seibu department stores - says it is the largest in the company's history. 7-Eleven now has over 9,800 stores in the United States and Canada.

Canada-based convenience store operator Alimentation Couche-Tard, which owns Holiday and Circle K, had also expressed interest in buying the stores.

Seven & i will acquire Speedway between January and March next year and expects the acquisition to push up its operating profit in fiscal 2024.

The deal, which is expected to close in the first quarter of 2021, includes a 15-year fuel supply agreement for about 7.7 billion gallons per year associated with the Speedway business, said Marathon, the largest US refiner by volume.

Iker Casillas announces retirement after 22-year playing career
He lifted five La Liga titles and the Champions League on three occasions during his time at the Santiago Bernabeu. A pure Real Madrid product, Casillas spent 16 years with the first team to make 725 appearances.

The Speedway gas station and convenience store at 4300 Derry St., in Swatara Township before it closed.August 29, 2019.

The prospect of a shrinking population in Japan means limited room for retailors to grow at home.

Along with many other retailers, Seven & i's profits have been hit hard by stay-at-home orders during the pandemic.

The largest acquisition by a Japanese firm of an overseas company was Takeda Pharmaceutical Co's 6.97 trillion yen takeover of Irish drugmaker Shire Plc, completed in 2019.

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