Acquisition

7-Eleven's parent company buys Speedway gas stations in $21 billion all-cash deal

Speedway gas stations will be added to the Seven & i Holdings company portfolio.

Photo courtesy of 7-Eleven

Does this mean slurpies in more places? The owner of 7-Eleven, Seven & i Holdings, has purchased the Speedway chain of gas stations from Marathon Petroleum for $21 billion. The sale is one of the biggest deals that has gone down since the COVID-19 pandemic rocked the economic fortunes of businesses worldwide.

The all-cash deal joins the two convenience store brands with other Seven & i Holdings properties, primarily based in the grocery sector. The company is the largest convenience store chain in Japan, owning 21,000 stores in the Asian country. They also own 9,800 stores in the U.S. and Canada.

Speedway gas station The acquisition adds 4,000 Speedway stores fo the company’s portfolio.Photo courtesy of Speedway

By picking up the Speedway chain of stores, Seven & i Holdings expands their footprint to include an additional 4,000 stores, giving the company a presence in 47 of the top 50 most populated areas in the U.S., the company said in a press release announcing the deal.

7-Eleven President and CEO Joe DePinto explained that the deal will allow the company to diversify its holdings in key regions of the country, "particularly in the Midwest and East Coast."

In Japan, convenience stores are located apart from gas stations. This is also true of many communities in the Eastern U.S. However, in the Midwest and beyond, convenience stores are most often associated with a gas station.

As part of the deal, Marathon will provide 7.7 billion gallons of petroleum a year for 15 years to Seven & i Holdings. Marathon has been struggling in the wake of low gas prices, announcing last week that it will not restart production at refineries in New Mexico and California that had been idled since April.

The two companies had been negotiating the sale for months, struggling to come to an agreement over the price.

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Nuts & Bolts

 
 

The Rolls-Royce Dusk in Tokyo collection features unique accents.

Photo courtesy of Rolls-Royce Motor Cars

Nearly every aesthetic aspect of a Rolls-Royce can be customized. From traditional leather choices to intricate inlays, vapor blasted titanium, and million-stitch embroidery, the options for owners from the Bespoke side of the brand are nearly endless.

"The Bespoke Collective scaled new heights of greatness in 2020 – that they did so against the backdrop of numerous, unprecedented constraints and challenges makes their accomplishments even more impressive," said Torsten Müller-Ötvös, Chief Executive, Rolls-Royce Motor Cars. "Never before have we seen such levels of Bespoke detailing in each commission, demonstrating that Rolls-Royce clients around the world have sought solace in creativity – commissioning introspective items of luxury that will stand the test of time to become lasting and poignant legacies."

Here, AutomotiveMap takes a closer look at some of the most intricate designs that the luxury automaker crafted in 2020. Click here to see their hits list from 2019.

Dusk in Tokyo

Rolls-Royce Dusk in Tokyo interior

Photo courtesy of Rolls-Royce Motor Cars

The 'Dusk in Tokyo Collection' is comprised of a Phantom, Wraith, Dawn, and Cullinan that celebrate the life and culture of Japan's capital city. Each model features a z complex, multi-faceted white paint, eponymously named 'Dusk in Tokyo', that is reminiscent of high-rise glass and concrete buildings bathed in the warm light of early dusk. The paint contains aluminum and mica flakes that create subtle tones in low light.

The Black Leather interior, punctuated by Rose Gold Bespoke Audio grilles and on Phantom, the fascia's Rose Gold clock case, is meant as a contrast, just as the long shadows of the city's call buildings cast on the ground below them.

At the cars' face is the Spirit of Ecstasy, presented in Rose Gold for the first time in Japan, representing the setting of the sun.

The Steed Phantom Extended

Rolls-Royce Phantom Steed Extended

Photo courtesy of Rolls-Royce Motor Cars

This horse-themed Phantom features complex bespoke embroidery that embellishes the interior rear doors. The design was developed from a sketch presented to the Rolls-Royce Bespoke Design Collective, by a Chinese client with a very clear vision.

Neon Nights Color Trilogy

Rolls-Royce Neon Nights Trilogy

Photo courtesy of Rolls-Royce Motor Cars

The new Rolls-Royce Bespoke Collective collection featured a limited run of four of each color Dawn, Wraith, and Cullinan models. Each is colored with a hue inspired by the natural world. Read more about these models here.

Phantom 'Iridescent Opulence'

Rolls Royce Iridescent Opulemnce

Photo courtesy of Rolls-Royce Motor Cars

This Phantom includes artwork that originally debuted as a concept in 2017. It was created in partnership with a Swiss materials specialist with the result being a gallery that houses over 3,000 sustainably sourced iridescent tail feathers. These feathers have been hand-sewn in to the open pore fabric. A Mother of Pearl casing surrounds the clock at the heart of the Gallery while bespoke embroidery at the rear waterfall and silver inlays on the picnic tables complete the design.

Wraith 'Inspired by Earth'

Rolls-Royce Wraith Inspired by Earth

Photo courtesy of Rolls-Royce Motor Cars

The Earth gave the design team the inspiration for this solar system-themed Wraith. The one-of-a-kind model was showcased earlier this year here on AutomotiveMap.

Wraith Kryptos Collection

Rolls-Royce Wraith Kryptos Collection Photo courtesy of Rolls-Royce Motor Cars

The Wraith Kryptos Collection comes complete with its own cipher that is concealed in the cars' bespoke detailing. Just 50 models were commissioned as part of the series. AutomotiveMap took a closer look at the vehicles here earlier this year.

The Mahlangu Phantom

Rolls-Royce The Mahlangu Phantom

Photo courtesy of Rolls-Royce Motor Cars

A South African client commissioned the bespoke model to display a highly personal work of art from globally celebrated South African artist, Dr Esther Mahlangu. Dr Mahlangu, a national icon in Africa from the Ndebele region, was the first artist to create an artwork in this way and the motor car was named 'The Mahlangu Phantom' in her honor. Positioned front and centre in the Phantom's interior, the one-of-a-kind commission is a striking display.

Cullinan Spirt of Russia Collection

Rolls-Royce Cullinan Spirit of Russia

Photo courtesy of Rolls-Royce Motor Cars

Four Rolls-Royce Cullinan SUVs were created and dedicated to Russian mountains: Elbrus, Krasnaya Polyana, Golden Mountains, and Klyuchevskaya Sopka. The exteriors of the models are painted Iced Black Diamond, Iced Gunmetal Steel, Midnight Sapphire Blue and Premiere Silver - colors chosen because they are reminiscent of the frosty peaks. Inside each, a map of Russia is on the starlight headliner while mountain peaks are embroidered on the headrests. The engraved sill plates of each car bear an inscription naming the mountain region that inspired its design, as well as the height of the highest peak in each region.

Dawn Silver Bullet Collection

Rolls-Royce Dawn Silver Bullet Photo courtesy of Rolls-Royce Motor Cars

The Dawn Silver Bullet Collection features an ultra-metallic paint job and unique aero cowling. Click here to read more about the car.

Sportive Collection

Rolls-Royce Sportive Collection

Photo courtesy of Rolls-Royce Motor Cars

A Collection of two Black Badge Dawns and nine Black Badge Wraiths were commissioned for the United Arab Emirates. The group features bold color combinations and technical fibers that intertwine to create vibrancy. Each has a hand-painted coastline. They also features woven-leather door panniers and engraved bespoke audio frets.

Arctic White and Hotspur Red Phantom

Rolls-Royce Hotspur Phantom

Photo courtesy of Rolls-Royce Motor Cars

An Arctic White exterior paint job with a double pinstripe in Hotspur Red is just the beginning of this model. The red continues inside where the lambswool floor mats, privacy curtains, and luggage compartment are completed in the color. The 'Lakeshore Aurora' Gallery is designed and created by the Rolls-Royce Bespoke Collective.

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The Bugatti Chiron Sport "Les Légendes du Ciel" edition pays homage to vintage aircraft.

Photo courtesy of Bugatti

In the aftermath of World War I, company founder Ettore Bugatti showcased the first three vehicles made by the company that bore his name. They were race cars and Bugatti found itself at the pinnacle of the sport very quickly.

By 1930, the company would begin its relationship with the aerospace industry, first with the Bugatti 100P, which never actually flew due to World War II, but served as the inspiration for a number of patents that are filed by the company. The plane went into storage as the Second World War kicked off and Mr. Bugatti would never again work on it during his lifetime.

Bugatti Chiron Sport "Les Légendes du Ciel" edition

Photo courtesy of Bugatti

Bugatti is honoring its racing and aviation past with a new series of Chiron Sport models dubbed "Les Légendes du Ciel". The drivers who piloted the Bugattis to success in the early 1900s were often time multitalented with resumes declaring them flying aces, daredevils, and technically skilled pilots.

"Bugatti has had close associations with aviation since the company was established more than 110 years ago. Many successful Bugatti racing drivers, such as Albert Divo, Robert Benoist and Bartolomeo 'Meo' Costantini, flew for the French Air Force, the French aviator legend Roland Garros privately drove a Bugatti Type 18 to be as fast on the road as in the air," says Stephan Winkelmann, President of Bugatti. "It is therefore almost an obligation for us today to pay tribute to the legends of that time and dedicate a special edition to them."

Each of the new models features a special, matte gray "Gris Serpent" paint job, which is inspired by the exterior color of aircrafts from the 1920s. The color extends front to rear with high-contrast, which gloss stripe running up the center. The front wings are adorned with the "Les Légendes du Ciel" logo. The "Le Bleu-Blanc-Rouge" tricolor decorates the front area of the side sills made of exposed black carbon fiber.

At the front is Bugatti's traditional horseshoe radiator grille, finished in gloss black. The grille mesh is made of laser-cut and deep-drawn aluminum, and constructed in a dynamic pattern that that is repeated on the car's leather seats. Entry lights project the edition logo on the ground at entry while "Les Légendes du Ciel" logo on the middle console inlays.

Bugatti has covered the engine with black exposed carbon fiber with contrasting white lettering. The material continues at the back where black exposed carbon fibre and a black-coated exhaust trim cover made of 3D printed, high-temperature-resistant Inconel dominate.

The car's interior is almost entirely upholstered in leather. The leather's light brown color was chosen to be reminiscent of the natural leather in early aircrafts. On the door panels there is a hand-sketched racing scene between the Nieuport 17 aircraft and a Bugatti Type 13.

The new Bugatti Chiron Sport "Les Légendes du Ciel" edition is limited to 20 vehicles. Every model is independently numbered and costs $3.5 million.

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