Marathon Ashland Petroleum LLC's Speedway SuperAmerica LLC unit last week reached an agreement with Welsh Inc. to purchase all of its convenience stores located in Indiana and Michigan. Terms of the transaction, which is expected to close by late spring, were not disclosed.

Based in Merrillville, Ind., Welsh has grown from a small number of service stations to Mobil Oil's largest U.S. fuel marketer. Welsh, which also markets Amoco-branded products, is among the largest fuel marketers in the Midwest. Welsh has been recognized as a leader in combining the modern convenience store format with car washes and quick-serve restaurants. Welsh has co-branded its units with a range of QSR brands, including White Castle, Subway, Wendy's, Blimpie, Dairy Queen, Aurelio's, Little Caesar's and Burger King.

"Bob Welsh and his family have built a convenience store operation that shares Speedway SuperAmerica's mission to be the customer's first choice for value and convenience," said Speedway SuperAmerica President Ron Becker in announcing the deal. "We're eager to welcome Welsh employees to the Speedway SuperAmerica family."

"We are pleased to sell our convenience store business to Speedway and we have confidence that they will continue to operate the stores and participate in the community in the same manner that our family has for the past 76 years," said Bob Welsh, chairman and chief executive officer of Welsh, who said the company will continue to operate its travel plaza business.

Speedway SuperAmerica is the nation's second largest company-owned and -operated convenience store chain with more than 2,250 stores located in 20 states. Most of the stores are operated under the Speedway and SuperAmerica brand names.