Is Speedway owned by 7-Eleven?

Yes. 7-Eleven, Inc. acquired Speedway from Marathon Petroleum in May 2021 for $21 billion. Speedway operates as a 7-Eleven subsidiary under its own brand name.

Is Speedway publicly traded?

No. Speedway is a private subsidiary of 7-Eleven. Its ultimate parent, Seven & i Holdings, trades on the Tokyo Stock Exchange under ticker 3382.

When was Speedway founded?

Marathon Oil founded the chain in 1959 in Michigan as Speedway 79, shortening the name to Speedway in 1962. It spent most of its history under Marathon ownership.

Who founded Speedway?

The Marathon Oil Company founded Speedway as its retail marketing arm. It has no individual founders; it was a corporate retail operation from the start.

What is Speedway's market position?

Speedway is one of the largest company-operated fuel and convenience chains in the United States, with roughly 3,000 stores concentrated in the East and Midwest under 7-Eleven ownership.

Will Speedway become 7-Eleven?

Not currently. Seven & i has kept the Speedway brand operating separately rather than converting stores to the 7-Eleven name, though back-end systems, loyalty, and private labels are increasingly integrated.

Retail & E-commerce

Who Owns Speedway?

Speedway is owned by 7-Eleven, Inc., a subsidiary of Japan's Seven & i Holdings Co., Ltd., which acquired the chain from Marathon Petroleum for $21 billion in May 2021. Founded in 1959 in Michigan, Speedway operates approximately 3,000 convenience stores and fuel stations across the eastern and midwestern United States.

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Parent Company

Seven & i Holdings

Acquired

2021

Status

Private

Headquarters

Enon, Ohio, USA

Speedway Timeline

1959

Speedway

Founded by Marathon Oil Company

Founded

2021

Acquired by Seven & i Holdings

Seven & i Holdings acquired Speedway

Acquired

valuemass marketUnited StatesunisexOfficial Website

Who Owns Speedway?

Parent Company: Seven & i Holdings
Ownership Type: Subsidiary
Acquisition Year: 2021
Company Type: Publicly Traded
Stock Ticker: Tokyo Stock Exchange: 3382

Brand	Parent Company	Ownership Type
Speedway	Seven & i Holdings	Subsidiary

History of Speedway

Founded: 1959
Founders: Marathon Oil Company
Acquired by Seven & i Holdings: 2021

Marathon Oil founded Speedway 79 in 1959 in Michigan as its downstream retail brand. The name shortened to Speedway in 1962, and the chain grew alongside Marathon's refining operations through the late 20th century as a fuel-first convenience retailer.

The chain expanded dramatically through two consolidations. In 2014, Marathon's retail unit acquired Hess Corporation's retail network, adding more than 1,200 East Coast stores in a single stroke and making Speedway the second-largest company-owned convenience chain in America. Most Hess locations converted to the Speedway banner over the following years.

Marathon Petroleum, which had inherited the chain in the 2011 Marathon Oil spinoff, announced the sale to 7-Eleven in August 2020 for $21 billion, a record price that valued the chain as the crown jewel of U.S. fuel retail real estate. The deal closed in May 2021 after the FTC-required divestitures.

Under Seven & i ownership, Speedway has undergone progressive integration: Speedy Rewards merged functionality with the 7Rewards ecosystem, private-label programs expanded, and the store base has been trimmed toward roughly 3,000 locations through additional divestitures and closings. The headquarters remained in Enon, Ohio rather than consolidating into Irving, Texas.

In 2024 and 2025, Seven & i faced its own takeover pressures, first a $38 billion proposal from Canada's Couche-Tard (owner of Circle K) that the board rejected in September 2025, followed by a management-led restructuring. Speedway's fate is now tied to whatever corporate reorganization emerges at the Tokyo parent, though it continues operating normally as of November 2026.

About Seven & i Holdings

What does Seven & i Holdings own?
Seven & i Holdings owns 7-Eleven, the world's largest convenience store chain, with operations in Japan (21,722 stores), the United States and Canada (12,712 stores), Australia (765 stores), and Hawaii (67 stores). The company also holds partial ownership of 7-Eleven operations in China. Following the deconsolidation of York Holdings and Seven Bank in 2025, the company is a pure-play convenience store business.

Is Seven & i Holdings publicly traded?
Yes, Seven & i Holdings trades on the Tokyo Stock Exchange under ticker 3382. The company has been publicly traded since its formation in 2005. No single shareholder holds a controlling stake, though the founding Ito family retains significant ownership.

Who is the CEO of Seven & i Holdings?
Stephen Dacus serves as Chief Executive Officer, having succeeded Ryuichi Isaka in March 2025. Dacus is the company's first foreign CEO. He was previously an outside director and was appointed to lead the company's restructuring in response to Alimentation Couche-Tard's $47 billion takeover bid.

What is Seven & i Holdings' revenue?
For fiscal year 2025 (ended February 28, 2026), Seven & i reported revenue from operations of 10.43 trillion yen and group total sales of 16.99 trillion yen. Operating income was 422.9 billion yen, and net income was a record 292.7 billion yen. For FY2026, the company forecasts revenue from operations of 9.45 trillion yen, reflecting the full-year impact of deconsolidations.

What happened with the Couche-Tard bid?
Alimentation Couche-Tard (parent of Circle K) made an unsolicited takeover offer for Seven & i in August 2024, eventually raising the bid to approximately $47 billion. Seven & i's board rejected the offer, citing antitrust concerns and undervaluation. Couche-Tard withdrew the bid in July 2025, blaming a lack of constructive engagement. The founding Ito family also submitted a potential $58 billion white knight bid.

What is York Holdings?
York Holdings is a holding company that houses Seven & i's former non-core assets, including supermarkets (Ito-Yokado, York-Benimaru), specialty stores, and department stores (Sogo, Seibu). It was deconsolidated from Seven & i in FY2025 as part of the company's transformation into a pure-play convenience store business. The superstore assets were sold to Bain Capital for 815 billion yen.

When will 7-Eleven US go public?
Seven & i initially planned to IPO its North American convenience store business (7-Eleven, Inc.) in 2026. In April 2026, the company delayed the IPO to FY2027 (ending February 2027), saying it needs more time to improve performance and maximize valuation. The US business operates 12,712 stores and generates roughly half of the group's convenience store profit.

Founded: 2005
Headquarters: Tokyo, Japan
Company Type: Publicly Traded
Stock: Tokyo Stock Exchange: 3382
Revenue: JPY 10.43 trillion (FY2025, ended Feb 2026)
Employees: approximately 83,000

Visit Seven & i Holdings website

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Where Is Speedway Made / Based?

Headquarters: Enon, Ohio, USA
Manufacturing / Operations: United States

Speedway Categories & Tags

Convenience Stores Gas Stations Fuel Retail 7 Eleven Food Retail

Speedway Recalls & Controversies

Speedway's most significant regulatory controversy was the FTC antitrust scrutiny around its 2021 acquisition, which required divesting several hundred stores to preserve local competition. That was a transaction-level issue rather than misconduct.

At the operating level, the chain faces the standard convenience-retail exposures: occasional food recalls affecting national brands it sells, fuel-pricing investigations in states with gouging statutes, and tobacco sales compliance. The 2014-2015 Hess acquisition also produced some integration-period wage litigation, settled without major penalties.

Speedway Ownership: Pros & Cons

Advantages

+Scale backing of world's largest convenience retail owner
+Shared procurement and private-label economics with 7-Eleven
+Speedy Rewards loyalty platform drives retention
+Strong fuel-retail real estate portfolio in eastern U.S.
+Integration proceeds without forced rebrand disruption

Considerations

-Fuel retail faces long-term EV transition headwinds
-Foodservice quality trails Wawa and Sheetz competitors
-Parent company faces ongoing corporate restructuring uncertainty
-Store count shrinking through divestitures and optimization
-Two parallel U.S. banners create internal overlap and complexity

Frequently Asked Questions About Speedway

Sources & Further Reading

Competitors to Speedway

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ampm	Bp	United Kingdom (parent BP)	1978	Mass market	United states	All Genders
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