No More Holiday Hess Truck? Mega Oil Merger Could Induce Gift-Giving Chaos

The famous Holiday Hess Truck could be in danger following Chevron Corporation’s (NYSE: CVX) acquisition of Hess Corp. (NYSE: HES), announced Monday.

Chevron did not specify if Hess’s brand, and the truck, will live on post-merger, but Hess CEO John Hess told CNBC the tradition will continue. 

Holiday Staple: The toy, a Christmas-time staple, did survive after Marathon Petroleum Corp (NYSE: MPC) purchased Hess’s retail gas stations in 2014. The Hess company has released a toy truck, or another type of vehicle, every year around the holidays for the past 59 years. 

Read Also: Chevron, Hess CEOs See 'A Lot Of Upside' For Shareholders Following $53B Deal

Hess Lore: The company released its first holiday toy, a replica tanker trailer, in 1964. The toys expanded beyond just trucks and trailers, introducing fire trucks, rescue helicopters and more. The toys have been an American Christmas-time favorite, especially on the East Coast where most Hess gas stations were. 

All of Hess’s gas stations were rebranded as Speedway after the company sold that portion of the business. But, Hess’s trucks have lived on and the company has continued to carry on its holiday tradition, releasing a police truck and cruiser toy this year. 

Merger Detail: Chevron will acquire a major oil field in Guyana as part of its acquisition of Hess.

Chevron’s stock traded down about 3% in Monday’s session following the announcement. 

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Photo: 2023 Hess holiday truck and car, Hess