Hess Toy Trucks Survive!

Well, we all heard the rumors that Hess Toy Trucks were not going to be made anymore and that this was the last year for them. To the baby boomers that grew up with the Toy trucks each Christmas this was crushing news! I remember the anticipation of what the new toy truck was going to be and all the hush hush from the station owners not telling us anything until they put up the posters advertising the new truck the day before it was going to be sold.

Hess Corp. finally after all the speculation said Thursday, May 22nd that it is selling its gas stations and convenience stores. One major thing they did so that all the Hess Toy Truck collectors out there could breathe a sigh of relief is announce that it will continue selling the toy trucks it has marketed each holiday season since 1964.

A different version of the truck is sold each year. Models have included fire engines, helicopters and even a space shuttle. The most recent model, a truck with a tractor in the back, went for $27.99. All of the Hess Toy Trucks are available on our website at http://rayshesstoytrucks.com from 1964 to the present as well replacement parts, signs, buttons, rare Hess collectibles & Mini's.

The toy truck has become a collector's item and tradition for some families. A Hess toy truck float is even included in the Macy's Thanksgiving Day Parade.

The 2014 holiday truck, which has not yet been announced, will be sold at the 1,342 Hess locations along the East Coast. After this year, the company will continue selling the Hess toy trucks online.
Hess sold its retail business to Marathon Petroleum Corp. so that it can focus on exploration and production, according to a statement from the company. The deal was for $2.6 billion.

Hess Sells it's Retail end to Marathon for $2.6B

Well here's the news everyone has been talking about for along time that finally came true! Hess agreed on May 22 to sell its retail business to Marathon Petroleum’s Speedway for $2.6 billion. Hess has long wanted to get away from the retail part of the business and focus more on drilling.
According to Hess, its retail part of the company is the largest chain of company-operated gas stations and convenience stores along the East Coast.
Marathon said its 1,480 Speedway convenience stores, most of them in the Midwest, are part of the nation’s fourth-largest chain, just ahead of Hess. Marathon also sells its gasoline through 5,200 independent retail outlets.
The deal includes all Hess retail locations, as well as the company’s transport operations and shipper history on various pipelines.
Marathon said the combined business will become the largest U.S. chain of convenience stores by revenue. It will include about 2,700 locations and had 2013 pro forma revenue of more than $27 billion.
Marathon will buy Hess Retail Holdings for $2.37 billion in cash, in addition to $230 million of working capital. The transaction also includes $274 million in capital leases, bringing its total value to roughly $2.87 billion.
“This acquisition will be transformative for MPC and Speedway as it will significantly expand our retail presence from nine to 23 states through these premier Hess locations throughout the East Coast and Southeast,” Marathon president and CEO Gary Heminger said in a statement.
The Findlay, Ohio-based refiner plans to rebrand the Hess locations. During a conference call with analysts, Speedway president Tony Kenney said Marathon has a license agreement to use the Hess brand for three years until the gas stations and convenience stores can be converted to Speedway.
“It’s basically by agreement that we have to rebrand,” Kenney explained.
“We saw a lot of value in the Hess brand. But as you can appreciate, Hess is an ongoing, publicly traded company, and the colors and marquee are their brand,” Heminger said in response to an analyst’s question.
Hess has shed more than $10 billion worth of assets as part of an effort to transform itself into a pure-play exploration and production company. With the sale of its convenience stores and gas stations, Hess has largely completed that objective.
CEO John Hess said the deal with Marathon “marks the culmination of our strategic transformation into a pure-play exploration and production company.”
Proceeds from the sale will be used to support an increase in Hess’ share buyback program to $6.5 billion from $4 billion. Since August 2013, Hess has repurchased about $2.8 billion in stock.
Hess also said it will continue to sell its toy trucks, a longtime holiday tradition. Hess plans to sell a 50^th anniversary edition this year at the retail outlets and online. Starting next year, the toy trucks will be sold exclusively online.