Is Speedway Rebranding to 7-Eleven? An In-Depth Expert Guide

As a home improvement expert who loves streaming, gaming, and keeping up with the latest convenience store news, I’m thrilled to provide you with this in-depth guide on Speedway and 7-Eleven. I’ll walk you through all the details you need to know about 7-Eleven’s recent acquisition of Speedway and what it means for these iconic brands. Get ready for insights into loyalty programs, store counts, food offerings, and more!

Will Speedway Stores Become 7-Eleven?

I‘m sure you‘ve noticed both Speedway and 7-Eleven convenience stores in your local neighborhood. With 7-Eleven buying up thousands of Speedway locations across the country, you may be wondering if the Speedway stores near you will suddenly be converted to 7-Elevens.

The short answer is no – even with 7-Eleven as the new owner, Speedway locations will continue operating under the Speedway brand readers know and love.

Speedway has been around since 1959, starting in Enon, Ohio and expanding to over 3,900 stores primarily in the Midwest, East Coast and Southeast US. 7-Eleven got its start back in 1927 and has grown into the world‘s largest convenience retailer, with over 59,500 stores globally.

While both are convenience chains, they each have tailored offerings and store formats:

• Speedway features extensive food menus and coffee bars along with loyalty perks like Speedy Rewards.
• 7-Eleven is best known for its Slurpees and Big Gulps along with the 7Rewards program.

7-Eleven‘s $21 billion acquisition of Speedway in late 2020 was more about expanding its US presence, not reforming Speedway entirely. So readers can expect these two iconic brands to continue operating separately. The next Speedway store you visit will still have the same Speedway logo, pricing, food and drinks you‘re used to. No need to worry about your go-to taquitos or coffee disappearing!

Is Speedway Merging With 7-Eleven?

When mega convenience store chains 7-Eleven and Speedway made headlines with a $21 billion acquisition deal, it left many wondering if this meant a full-on merger was in the works. Especially with both brands planning to integrate their loyalty programs.

I’m here to clear up that no, there is no 7-Eleven and Speedway merger on the horizon. The two companies will maintain their separate offices, leadership teams, and mostly independent operations.

However, they have publicly announced a "strategic alliance” that will allow some collaboration to benefit both brands.

Here’s a quick look at what each company brings to the table in this convenience store team-up:

• 7-Eleven: International experience and advanced technology from 69,500 global stores
• Speedway: Efficient Midwestern supply chain and 4,000+ loyal customers

Together they can combine technological resources, utilize each other‘s vast customer data, and generate major cost efficiencies.

But a complete merger into one unified company? Not happening. You‘ll still see these friendly convenience rivals competing nationwide. The Speedway corn dogs aren‘t going anywhere!

Who Bought Out Speedway Gas Stations?

In December 2020, convenience store chatter focused on one massive deal – 7-Eleven shelling out $21 billion to purchase Speedway from its parent company Marathon Petroleum Corporation. This acquisition included:

• Approximately 3,900 Speedway branded gas and convenience store locations
• All associated trademarks, branding and intellectual property
• Over 270 million loyal Speedy Rewards members

For 7-Eleven, it signified their largest purchase ever and cemented their position as the #1 convenience retailer in the United States.

Let’s look at a few key stats:

• 7-Eleven’s U.S. store count jumped from ~8,700 to ~12,600 virtually overnight
• They added presence in desirable new Midwestern markets
• Total global stores now exceeds a whopping 77,000

Make no mistake, 7-Eleven now owns Speedway. But rather than absorbing Speedway entirely, they seem committed to preserving its brand identity.

So rest assured, Speedway isn’t going anywhere! You can still rely on them for the cheap gas, roller grill dogs, and occasional free birthday coffee or soda.

Why Did 7-11 Buy Speedway?

Convenience store fans naturally wondered why 7-Eleven felt the need to fork over $21 billion to buy Speedway. Here are a few of the likely strategic reasons:

1. Drastically expand US market share

Absorbing 4,000+ Speedway locations allowed 7-Eleven to aggressively expand its footprint across the country almost overnight. Speedway gave them presence in desirable markets like the Midwest where they previously had limited penetration.

2. Acquire loyal customers

The deal handed 7-Eleven access to Speedway’s massive customer base. Think millions of existing Speedy Rewards members now exposed to 7-Eleven offerings and promotions.

3. Capitalize on Speedway‘s operational strengths

Speedway had a reputation as an extremely well-run company. 7-Eleven gains insights into Speedway’s famously efficient Midwest supply chain and distribution model that keeps costs low.

4. Shared technology and loyalty programs

With plans to integrate their loyalty programs and back-end technology, 7-Eleven can benefit from Speedway’s innovations while also implementing their own global expertise.

5. Major cost saving opportunities

As one consolidated company, 7-Eleven estimated over $200 million in cost synergies by combining purchasing power, distribution networks and corporate functions.

Clearly 7-Eleven saw major strategic value in acquiring this convenience store crown jewel. While keeping the Speedway brand alive, they’ll aim to leverage shared strengths.

Is 7-11 and Speedway the Same?

Given all the recent acquisition news, I can understand the confusion around whether 7-Eleven and Speedway are the same company underneath those famous convenience store logos.

While they are teaming up in some areas, it’s important to remember these are still distinct retail chains at heart. Let‘s compare the key facts:

• 7-Eleven was founded in 1927, Speedway in 1959.
• 7-Eleven has 69,500+ global stores, Speedway has nearly 4,000 US locations.
• 7-Eleven is owned by Seven & l Holdings (Japan), Speedway by 7-Eleven.
• Different corporate offices, leadership teams, and store formats.

The bottom line – when you‘re craving a chili dog and staring at the roller grill trying to decide where to shop, you still have two very different options in 7-Eleven or Speedway.

In my opinion as a convenience aficionado, we‘re lucky to have these iconic brands continuing to compete and innovate! More slurpees, coffee and snack choices for all!

Are Speedway Points Going Away?

If you’re one of the millions of loyal Speedy Rewards members, I’m sure you had some concerns about the future of your coveted points. Not to worry – Speedway has stated the popular Speedy Rewards program will continue even after the 7-Eleven acquisition.

Speedway clearly understands how vital the member perks are for keeping customers loyal to the brand. Let’s look at some of the beloved features you can still enjoy:

• Earn points on fuel, snacks, car washes, lottery, surveys and more
• Tiered benefits like 3x daily points for elite members
• Birthday freebies – Get a coupon for a free drink or discount
• Redeem rewards – Use your points for all kinds of savings and offers

Speedway also hasn‘t given any indication of future plans to sunset Speedy Rewards. Combined with the fact they are keeping the Speedway name alive, it seems likely your points stash can keep growing for years to come!

Did All Speedway Locations Get Bought By 7-Eleven?

In 2020 when 7-Eleven purchased Speedway for $21 billion, you might assume the deal included every single Speedway location. However, about 500 Speedway stores across the country are actually still independently owned and operated today.

Here are some key facts on which locations were included:

• Approximately 3,900 corporately owned Speedway stores purchased by 7-Eleven
• Deal gave 7-Eleven the Speedway brand name and intellectual property
• Around 500 franchisee-owned stores had the option to be included but could remain standalone

Based on the numbers, it appears most independent franchisees chose to sell and join the 7-Eleven family. But a few hundred decided to forgo the acquisition offer and continue on solo as Speedway operators.

For you as the customer, it means you still have local owner-run Speedway stores in your area committed to that Speedy Rewards life! More opportunities to earn sweet bonus points.

Who Bought Out 7-Eleven Stores?

Given their global domination of convenience stores, it’s natural to wonder how 7-Eleven came to be owned by a Japanese company. Let’s dive into the history:

• 1991 – 7-Eleven‘s parent Southland Corp declares bankruptcy, putting them up for sale
• 1991 – Japanese retailer Ito-Yokado buys 70% of Southland Corp and 7-Eleven for $400 million
• 2005 – Ito-Yokado merges with 7&i Holdings Co. in Japan
• 2005 – 7&i Holdings buys remaining 30% of Southland/7-Eleven for $1.48 billion

Today, 7&i Holdings Co. based in Tokyo owns 7-Eleven outright and has invested heavily in their phenomenal growth. While foreign owned, 7-Eleven remains passionate about serving American customers from their headquarters in Dallas.

And that growth under their parent company has been remarkable – from dominating Japan to expanding to over 77,000 global stores, including 14,000+ locations right here in the US.

So next time you’re impulse buying a hot dog and Slurpee at 2am, you can thank our friends at 7&i Holdings in Japan for fueling 7-Eleven’s worldwide convenience store leadership!

Why Did Speedway Change Their Name?

Before 2008, you actually knew the Speedway brand by the mouthful name “Speedway SuperAmerica LLC.” This was a combo of the two convenience chains that merged in 1998 to create the retailing powerhouse.

But in 2009, they decided it was time to simplify to just plain “Speedway.” Some key reasons behind refreshing their branding:

• Single unified brand – Eliminated the separate SuperAmerica affiliation
• Broaden appeal – Shorter, punchier, more modern name
• Spotlight Speedway equity – Emphasized recognition of the Speedway legacy
• Stronger customer connection – Unique branding helps build relationships

Along with the renamed, Speedway also updated its logo, promotions, website design and store interiors. Everything from removing dated neon lighting to highlighting their fresh food options.

The goal of this major rebranding effort was to provide a more seamless experience from store to pump to rewards program. Based on Speedway’s continued success and growth, looks like it was the right call!

Are All Speedways Owned by 7-Eleven?

Given 7-Eleven’s acquisition of over 3,900 Speedway convenience stores and gas stations, it’s logical to wonder if they now own the entire Speedway chain. But that’s not quite the case.

While the majority of locations are now under 7-Eleven ownership, approximately 500 Speedway stores across America remain independently owned and operated.

Beyond Speedway, there are actually many other competing convenience store brands around the country not affiliated with 7-Eleven, including:

• Regional chains like Kwik Trip, Wawa, QuickTrip
• Major national players like Circle K and Casey’s General Store
• Independent neighborhood c-stores

So while they are undoubtedly the industry leader, 7-Eleven does not yet have a complete monopoly over convenience retail. Independent and rival chains still make up a sizable portion of the market.

This means more choices for us as shoppers! And when you need that breakfast sandwich or pack of gum in a hurry, both Speedway and 7-Eleven will be ready to compete for your business.

Will All Speedways Become 7-Eleven?

Considering 7-Eleven now owns most Speedway locations, is it only a matter of time before they rebrand or convert them all to 7-Elevens? I’d say absolutely not.

Here’s why I think most Speedway stores are staying put:

• Speedway has incredibly loyal customers that they won’t want to lose
• Differentiated food menu and Speedy Rewards program give Speedway an edge
• Significant investment needed to remodel stores to 7-Eleven format
• Allows 7-Eleven to expand reach while still providing specialty Speedway offerings

In my opinion, 7-Eleven made this acquisition to tap into new markets and customer bases, not eliminate the loved Speedway brand.

While we could see minor location swapping in some regions, most communities will continue having both their trusty 7-Eleven and their favorite Speedway stores for the foreseeable future.

Are Speedway Stores Franchised?

The Speedway you frequent is likely one of the nearly 4,000 franchised locations around the country. Franchising has been crucial to Speedway’s growth over the years.

Here’s an overview of how Speedway’s franchise model works:

• Speedway corporate provides franchisees with initial training, store guidelines, marketing materials, distribution resources and more.
• Franchise owners pay Speedway an upfront franchise fee to secure their new store.
• They also commit to ongoing royalty payments, marketing contributions, required investments, etc.
• Franchisees benefit from leveraging Speedway’s brand power, distribution capabilities and corporate support.

Franchising enables Speedway to quickly expand while tapping local owner knowledge. In turn, franchisees get the invaluable advantage of opening under an established retail brand name.

It’s been a win-win for Speedway corporately and for the small business owners operating locations in neighborhoods nationwide!

How Much Does a Speedway Franchise Cost?

If you’ve ever dreamed of owning a convenience store franchise, you’re probably curious just how much that Speedway investment might set you back.

According to Speedway’s corporate website, here’s a look at the initial investment range to open a new franchise location:

• Small kiosk format – Approximately $250,000
• Large convenience store site – Up to $1.5 million

Major costs include:

• Franchise fee payment
• Real estate purchase and store construction
• Equipment, inventory, and fixtures
• Opening labor, inventory and operating expenses

Ongoing expenses like payroll, taxes, marketing fees, utilities and maintenance are hefty as well. Actual total investment varies greatly depending on your specific franchise type, size and location.

While not pocket change, many franchisees feel the advantage of leveraging Speedway’s brand and resources makes the investment worthwhile. Just don’t plan on getting rich quick selling hot dogs! Careful planning and hard work is a must.

Is Speedway a Russian Company?

With global brands and international investments everywhere these days, a logical question is whether Speedway has any Russian ownership or ties.

The answer is a definitive no – Speedway is 100% American owned and operated. Here are the key facts:

• Founded in 1959 in Enon, Ohio and maintains headquarters there today
• Previously owned by Marathon Petroleum Corporation in Ohio
• Acquired in 2020 by 7-Eleven corporation headquartered in Dallas, Texas
• Has over 40,000 American employee across U.S. stores and offices

While international companies like 7&i Holdings (Japan) now own stakes in major U.S. brands, Speedway has remained rooted right here in their home country.

From their Midwest beginnings to their coast-to-coast store expansion, Speedway embodies American convenience store know-how. So rest assured, your Speedy Rewards are supporting good old American businesses!

The Bottom Line

Phew, that was a lot of detail on the evolving convenience retail landscape! To recap, while 7-Eleven now owns Speedway, you can expect both beloved brands to continue their friendly competition:

• Speedway stores are not rebranding or becoming 7-Elevens
• No full merger is planned – they will collaborate but operate separately
• Speedy Rewards will still be there for loyal Speedway customers
• Thousands of franchised locations will likely remain across America
• 7-Eleven bought Speedway mainly for strategic expansion and cost efficiencies
• Each chain maintains its differentiated food menus and store formats

The bottom line – we‘re lucky to still have these two convenience heavyweights innovating on our behalf. More locations, rewards programs, and yummy roller grill options are a win for all!

So next time you‘re craving a coffee or hot dog on the go, enjoy knowing you still have thriving 7-Eleven and Speedway choices in your neighborhood. And make sure to take advantage of those Speedy Rewards points!