John Hess to Buy Iconic Toy Trucks From Chevron After Takeover

John Hess plans to buy back his family’s iconic toy truck business next year from Chevron Corp. after the oil giant bought his company this month.

Hess, who joined Chevron’s board yesterday, will also buy back the company’s leasehold interest in an aircraft and hanger, Chevron said today in a regulatory filing. Hess also struck a deal related to the trademarks associated with his family name.