SuperAmerica
 |
 | |
| Company type | Subsidiary |
|---|---|
| Industry | Retail (convenience stores) |
| Founded | 1960[1] |
| Founder | Elmer Erickson |
| Headquarters | Woodbury, Minnesota, United States |
Number of locations | 278[2] |
Key people | David L. Lamp, President and CEO |
| Parent | Northern Tier Energy[3] |
| Website | www.superamerica.com |
SuperAmerica is a chain of gasoline stations in the upper Midwest, based in Woodbury, Minnesota. It is owned by Northern Tier Energy (NYSE: NTI).
History
SuperAmerica convenience stores first opened in the 1960s in Saint Paul, Minnesota. They were first operated by Northwestern Refining of St. Paul Park, Minnesota. Stations were primarily located in the upper Midwest, as well as Florida.
Ashland Petroleum purchased Northwestern Refining and the SuperAmerica chain in the 1970s. Ashland had marketed full-service stations under its own "Ashland" brand. As self-service was legalized, it used the brands "Solo", "Save Mart", "Save More", and "Rich", along with others. Ashland converted most of its outlets in its core territory to "SuperAmerica", while withdrawing from Florida. It maintained a few outlets under its other brand names to keep the trademarks valid.
In 1997, Marathon and Ashland Petroleum merged, forming Marathon Ashland Petroleum LLC (MAP), a joint venture combining the companies’ refining, marketing and transportation businesses, with Marathon owning 62% of the operations while Ashland owned 38%. In the process, Ashland's SuperAmerica and Marathon's Speedway convenience store chains were merged to form Speedway SuperAmerica LLC, a wholly owned subsidiary of MAP. SuperAmerica stores outside the upper midwest were rebranded as Speedway.
In 2004 Marathon bought out Ashland's share. In February 2011, Marathon sold its SuperAmerica stores to Northern Tier Energy, a newly formed company backed by the private equity firms ACON Investments and TPG Capital.[4] Today Speedway and SuperAmerica are unrelated chains. SuperAmerica stores are located in Minnesota, Wisconsin and South Dakota, and Kentucky.[5] Northern Tier Energy went public in 2012.[6] In 2013, Western Refining bought a controlling stake in Northern Tier Energy.[7]
The Marathon refinery in St. Paul Park, Minnesota was sold in 2010 to Northern Tier Energy, along with the SuperAmerica convenience store chain, separating it from Speedway. Speedway was subsequently renamed Speedway LLC.
References
- ^ "About Us". SuperAmerica.com. Retrieved 2015-06-12.
- ^ "Store Locator". SuperAmerica.com. Retrieved 2016-01-11.
- ^ "Corporate Profile | Northern Tier Energy". Ntenergy.com. 2014-03-31. Retrieved 2015-06-12.
- ^ "Daily Developments: MN SuperAmerica Stores Sold Again for $248M". Tcbmag.blogs.com. Retrieved 2015-06-12.
- ^ [1] Archived 2012-05-12 at the Wayback Machine
- ^ "IPO Preview: Northern Tier Energy LP (NTI) - Northern Tier Energy (NYSE:NTI)". Seekingalpha.com. Retrieved 2015-06-12.
- ^ Spector, Mike (2013-11-11). "Western Refining Plans to Acquire Controlling Stake in Northern Tier Energy, Sources Say - WSJ". Online.wsj.com. Retrieved 2015-06-12.
External links