23.06.2016 17:01:54
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Pilot Flying J and Speedway Enter into Joint Venture Designed to Improve Service for Drivers in the Southeast Region
KNOXVILLE, Tenn. (June 23, 2016) - Pilot Flying J and Speedway LLC (Speedway) have entered into a joint venture consisting of 120 travel plazas, primarily in the Southeast United States. The new entity, PFJ Southeast LLC, will initially consist of 41 locations contributed by Speedway and 79 locations contributed by Pilot Flying J, all of which will carry either the Pilot or Flying J brand and will be operated by Pilot Flying J.
This venture will better serve guests in the high growth Southeast region of the United States by investing in upgrades and renovations of the 41 locations contributed by Speedway. These locations will provide additional parking for guests with a variety of food choices and dining options. All locations will honor the Pilot Flying J MyRewards loyalty card, through which members can earn points through fuel purchases to redeem for retail and restaurant discounts.
"This is another exciting chapter in a long-standing relationship between Pilot Flying J and Speedway," said Ken Parent, president of Pilot Flying J. "We look forward to providing an exceptional offering of products and services to our guests in the Southeast region."
"Speedway's core dedication to customer service, combined with Pilot Flying J's expertise as an exceptional travel center operator, will make PFJ Southeast LLC a premier choice for professional drivers throughout the Southeast," said Tony Kenney, president of Speedway. "We will be able to provide additional amenities to our customers under the Pilot and Flying J brands and better service drivers in this region overall."
This transaction is subject to customary closing conditions and regulatory clearances.
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About Pilot Flying J
Pilot Flying J, the largest operator of travel centers in North America, is committed to making life better for professional drivers. Headquartered in Knoxville, Tennessee, Pilot Flying J has more than 650 retail locations, 52 Goodyear Commercial Tire and Service Centers (Wingfoot) and 44 Boss Shops, all of which accept MyRewards cards for Pilot Flying J's loyalty program. The Pilot Flying J network provides drivers with access to more than 70,000 parking spaces for trucks, 4,800 showers and more than 4,400 diesel lanes offering Diesel Exhaust Fluid (DEF) at the pump. Pilot Flying J is currently ranked No. 8 on Forbes' list of America's Largest Private Companies. Visit www.pilotflyingj.com for more information.
About Speedway
Speedway LLC (Speedway), headquartered in Enon, Ohio, is the nation's second largest company-owned and -operated convenience store chain with approximately 2,770 stores located in 22 states. Speedway is a wholly owned subsidiary of Marathon Petroleum Corporation (NYSE: MPC). For further information about Speedway, visit the company's web site at http://www.speedway.com.
This press release includes forward-looking regarding Marathon Petroleum Corporation (MPC). You can identify forward-looking statements by words such as "anticipate," "believe," "estimate," "expect," "forecast," "goal," "intend," "objective," "opportunity," "plan," "position," "potential," "predict," "project," "seek," "target," "could," "may," "should," "would," "will" or other similar expressions that convey the uncertainty of future events or outcomes. We have based our forward-looking statements on our current expectations, estimates and projections about our industry and our company. We caution that these statements are not guarantees of future performance and you should not rely unduly on them, as they involve risks, uncertainties and assumptions that we cannot predict and many of which are beyond our control. Accordingly, our actual results may differ materially from the future performance that we have expressed or forecast in our forward-looking statements. In accordance with "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we have included in MPC's Form 10-K for the year ended Dec. 31, 2015, cautionary language identifying important factors, though not necessarily all such factors, that could cause future outcomes to differ materially from those set forth in the forward-looking statements. Copies of MPC's Form 10-K are available on the SEC website, MPC's website at http://ir.marathonpetroleum.com or by contacting MPC's Investor Relations office.
Investor Relations Contacts:
Lisa D. Wilson (Speedway) (419) 421-2071
Teresa Homan (Speedway) (419) 421-2965
Media Contacts:
Stefanie Griffith (Speedway) (419) 421-4327
Anne LeZotte (Pilot Flying J) (865) 474-3028
Anne.lezotte@pilottravelcenters.comThe issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Marathon Petroleum Corporation via Globenewswire
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