Marathon Petroleum Corp. has agreed to acquire all 37 of NOCO Energy Co.’s convenience stores in western New York.
The companies did not disclose the terms of the deal, which they expect to close by late spring. Marathon will re-brand the locations to its Speedway brand. The company will continue to operate its wholesale fuel distribution network along with its heating oil, propane sales, gas supply, real estate development and petroleum equipment sales businesses, Michael Newman, NOCO executive vice president and co-owner.
In response to a CSP Daily News request, a spokesperson for Marathon Petroleum would not confirm and declined comment on the transaction. Family-owned NOCO is based in Tonawanda, N.Y., NOCO operates 37 convenience stores in western New York. It also offers a full line of products and services, including natural gas, electricity, propane, heating oil, HVAC sales and service and commercial fuel. NOCO is No. 173 in CSP's 2018 Top 202 ranking of c-store chains by number of retail outlets.
Findlay, Ohio-based Marathon Petroleum is an integrated downstream energy company that operates 16 refineries and a marketing system that includes about 7,800 branded U.S. locations, including about 5,600 Marathon retail outlets. Its Enon, Ohio-based Speedway subsidiary owns and operates about 4,000 convenience stores nationwide.