Speedway to Acquire GasAmerica Services Chain
ENON, Ohio -- Speedway LLC has reached an agreement to acquire all 88 operating locations of GasAmerica Services Inc. The convenience stores are located throughout Indiana and Ohio. The deal also includes several parcels of undeveloped land 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. "
The majority of the locations will be converted to the Speedway brand once the transaction is completed. As part of the purchase agreement, Speedway will also acquire all trademarks, trade dress and intellectual property from GasAmerica.
"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."
The transaction is expected to close by the end of May, subject to regulatory approvals, customary due diligence and other closing conditions.
"We are pleased that our fleet of convenience store locations and employees will be under the guidance of a leader within our industry," White added. "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."