FTC Approves Final Order Imposing Conditions on Marathon Petroleum Corporation’s Acquisition of Express Mart
Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Marathon Petroleum Corp.’s proposed acquisition of Express Mart would violate federal antitrust law.
Marathon’s wholly owned subsidiary Speedway operates the second-largest chain of company-owned and -operated gasoline and convenience stores in the United States. Express Mart is a Syracuse, N.Y.-based operator of convenience stores and retail fuel outlets.
According to the complaint, which was first announced in October 2018, the acquisition likely would harm competition for both retail gasoline and retail diesel in five local markets in New York State: Farmington, Fayetteville, Johnson City, Rochester, and Whitney Point.
Under the terms of the proposed consent order, Marathon will be required to divest to Sunoco retail fuel assets in Farmington, Fayetteville, Johnson City, Rochester, and Whitney Point within 90 days after the acquisition is completed. Marathon and Express Mart will be required to maintain the competitiveness of the divestiture assets during the divestiture process.
The Commission vote approving the final order was 5-0. (The staff contact is Helder G. Agostinho, Bureau of Competition, 202-326-3415.)
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