“Speedway is an elite retailer committed to growing the Speedway brand in new markets,” said Tony Frankenberger, president of McLane Grocery in the announcement. “They are consumer driven as well as community service driven, both qualities we mutually share.”
Speedway operates about 2,770 stores in 22 states after a merger with the Hess Retail chain, making it the second largest company-owned and operated convenience store chain in the U.S.
Earlier this month, Speedway reported $673 million in earnings last year, and company officials said the chain is ahead of schedule in converting former Hess locations to the Speedway brand. The earnings exceeded expectations for the company.
McLane’s ability to adapt to Speedway’s business and technology practices helped drive the agreement, McLane officials said.
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