NASCAR Signs Multi-Year Partnership With $2.38 Billion-Value Company

NASCAR and Speedway Motorsports have confirmed a multi-year partnership with Suburban Propane Partners, L.P, which is currently valued at $2.38 billion.

This collaboration names Suburban Propane the Official Propane of both NASCAR and Speedway Motorsports.

Known for its role as an energy product distributor, Suburban Propane will deliver propane necessary for powering NASCAR’s new propane-driven track dryers, marking a shift towards efficiency and sustainability in track operations.

As per the agreement, Suburban Propane will ensure the supply for various racetrack operations, including concessions and services for campers.

Martin Truex Jr., driver of the #19 Bass Pro Shops Toyota, and Joey Logano, driver of the #22 Shell Pennzoil Ford, lead the field during the NASCAR Cup Series Championship Race at Phoenix Raceway on…

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Suburban Propane has an impressive portfolio, distributing a range of energy products while investing in low-carbon alternatives. Founded in 1928 and headquartered in Whippany, New Jersey, the company has grown its service to roughly one million customers across 42 states.

The partnership involves numerous locations. For NASCAR, key venues such as the renowned Daytona International Speedway and Talladega Superspeedway are included.

Meanwhile, Speedway Motorsports extends the collaboration to include venues like Charlotte Motor Speedway and Las Vegas Motor Speedway.

A highlight of the partnership is the deployment of propane-powered track dryers, set to make their debut in February 2025. These dryers are expected to significantly improve the efficiency of track drying.

Nandini Sankara, Vice President, Marketing & Brand Strategy and spokesperson for Suburban Propane, commented in the official press release:

“Uniting Suburban Propane, NASCAR and Speedway Motorsports represents a strong partnership among three longstanding and well-recognizable American brands serving a broad and diverse audience.

“As the official propane of NASCAR, we are excited to make a meaningful contribution at the racetracks and foster a dynamic collaboration that meets the needs of NASCAR and its fans.”

Kevin Camper of Speedway Motorsports also shared his enthusiasm about the collaboration, highlighting the longstanding relationship with Suburban Propane.

“We’ve had very positive business relationships between Suburban Propane and some of our speedways for many years.

“We’re now expanding those relationships company-wide and will work with Suburban to provide convenient propane refill stations accessible to fans near our campgrounds. It’s a pleasure to add a service-oriented company like Suburban Propane to our family of Speedway Motorsports Official Partners.”

Another crucial aspect of this new partnership is the marketing and branding strategy, with a co-branded logo to be prominently displayed on Suburban Propane bobtails and service centers nationwide.