You’re driving through the Midwest or cruising down the East Coast and you see that familiar red-and-white Speedway sign. It’s a staple. For years, you probably associated those stations with Marathon Petroleum—the big oil refiner that owned them for decades.
But things changed. Big time.
If you’ve noticed 7-Eleven’s "Big Gulp" cups appearing in Speedway fountains or seen the "7-Eleven Rewards" signs popping up near the pumps, it’s not a coincidence. Honestly, the answer to who owns Speedway gasoline stations is a bit more complex than just a single name on a building, but it boils down to one massive, $21 billion deal that shook the entire convenience store industry.
The Short Answer: 7-Eleven Is the Boss Now
In May 2021, 7-Eleven, Inc. officially closed a deal to buy Speedway from Marathon Petroleum Corp.
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It wasn't just a small acquisition; it was a behemoth of a transaction. We’re talking about 3,800 stores changing hands for $21 billion in cash. To put that in perspective, that’s one of the largest retail acquisitions in history.
So, if you’re looking for the name on the deed today, it’s 7-Eleven, Inc. But if you want to get technical—and since we're diving deep, let’s get technical—7-Eleven itself is owned by a Japanese powerhouse called Seven & i Holdings Co., Ltd.
This makes Speedway part of a global empire. While 7-Eleven is headquartered in Dallas, Texas, the ultimate "parents" are sitting in Tokyo. This move was basically a play for 7-Eleven to dominate the North American market, giving them a presence in 47 of the top 50 most populated metro areas in the U.S.
Why Did Marathon Let It Go?
You might wonder why Marathon Petroleum would sell off such a profitable wing of their business. Speedway was a cash cow.
Basically, it came down to pressure from "activist investors." A group called Elliott Management started leaning on Marathon back in 2019, arguing that the company would be worth more if it split its refining business (making the gas) from its retail business (selling the snacks and gas).
Marathon eventually agreed. They decided to focus on what they do best—refining oil—while pocketing $16.5 billion in after-tax proceeds to pay down debt and keep shareholders happy.
The FTC stepped in (and some stores got sold)
Whenever two giants merge, the government gets nervous about monopolies. The Federal Trade Commission (FTC) took a long look at this deal and decided it was a bit too much power for one company in certain towns.
To make the deal legal, 7-Eleven had to sell off 293 stations to other companies. If you used to go to a Speedway that suddenly turned into an Anabi Oil, CrossAmerica Partners, or Jacksons Food Stores location, that’s why.
The FTC essentially said, "You can have the thousands of other stores, but you can't own every single corner in these specific 20 states."
Is the Speedway Brand Going Away?
This is the part that confuses people. Usually, when a company buys another, they rebrand everything immediately.
But 7-Eleven is playing it smart. They know that Speedway has a cult following in places like Ohio, Michigan, and Indiana. People are loyal to their Speedy Rewards. Because of that, 7-Eleven has kept the Speedway name on most of the storefronts.
You’ll see a "hybrid" experience. You walk in, the sign says Speedway, but the coffee is 7-Eleven brand, the snacks are 7-Eleven private label, and you can use your 7-Eleven app at the register. It’s a "best of both worlds" strategy that keeps the old customers from getting annoyed while streamlining the supply chain.
Key Players in the Speedway Universe (2026)
- Parent Company: Seven & i Holdings (Tokyo, Japan)
- Direct Owner: 7-Eleven, Inc. (Dallas, Texas)
- Former Owner: Marathon Petroleum Corp. (Findlay, Ohio)
- Strategic Partners: 7-Eleven still has a 15-year agreement to buy billions of gallons of fuel from Marathon, so the gas in the tanks is often still Marathon-sourced.
The Couche-Tard Plot Twist
Here is something most people haven't heard yet. Even though 7-Eleven owns Speedway, there’s been a lot of "merger drama" lately.
In late 2024 and heading into 2025, the Canadian giant Alimentation Couche-Tard (the people who own Circle K) actually made a massive buyout offer for Seven & i Holdings. They wanted to buy the whole thing—7-Eleven, Speedway, and the Japanese parent company.
It hasn't happened yet, and there is a ton of regulatory red tape in the way. But it’s a reminder that in the world of gas stations, the person who owns the sign today might not be the person who owns it tomorrow. For now, though, the 7-Eleven/Speedway marriage is the strongest force on the road.
Why This Matters to You
It’s not just corporate trivia. Knowing who owns Speedway gasoline stations actually changes how you save money.
Since the merger, the rewards programs have basically fused. If you have 7Rewards points, you can often use them at Speedway. If you’re a truck driver, the 7Fleet Diesel Network now integrates Speedway’s commercial lanes with 7-Eleven’s tech.
Also, watch for the "7Charge" rollout. 7-Eleven is aggressively installing EV chargers at Speedway locations to make sure they don’t become obsolete as people switch away from gas. They aren't just a gas station company anymore; they are trying to become a "convenience and energy" company.
Actionable Insights for the Road:
- Sync Your Apps: If you haven't linked your Speedy Rewards and 7Rewards accounts, do it now. You're leaving free points on the table by keeping them separate.
- Check the Fuel: Even though it's a 7-Eleven owned property, the fuel is still high-quality Marathon gas due to that 15-year supply contract. You don't have to worry about the "generic" fuel swap.
- Watch the Sign: If your local Speedway gets a major renovation, look for the "7Charge" stations. It's often the first sign that 7-Eleven is investing heavy capital into that specific neighborhood.
Basically, 7-Eleven owns the house, but they’re keeping the Speedway name on the mailbox because they know you like it. Just don't be surprised when you see a Slurpee machine where the old fountain used to be.