John Hess, CEO of Hess Corp., secures deal to keep Hess toy line post-Chevron buyout. Hess to join Chevron board. Iconic toy trucks part of holiday tradition since 1964. Acquisition finalized but toys to remain with family.

Hess gas-station chain acquired by Chevron, but Hess toy trucks to stay in family hands. CEO John Hess to repurchase toy-truck business from Chevron. Deal expected to close next year.

Return of Hess trucks to family confirmed in SEC filing. John Hess appointed to Chevron board. Hess trucks and toys popular enough to warrant announcement of continued sales post-merger.

All Hess-themed toys, including helicopters, rescue vehicles, airplanes, and space shuttles, to revert to Hess family. Deal struck to retain trademarks associated with family name. Independent appraisers to determine toy business value.

Hess toys sold since 1964 with dedicated fan base. Collectors willing to spend up to $2,500 on past models. News originally reported on Fortune.com.

Read more at Yahoo Finance: Hess is now owned by Chevron, but Hess toy trucks will remain owned by the Hess family