TravelCenters of America LLC (NYSE:TA) today announced that it has completed its previously announced acquisition of thirty-one (31) convenience stores with retail gasoline stations (“C-stores”) for $67.9 million, including closing costs and customary working capital adjustments. TA will continue to operate these C-stores under the proprietary brand name “Minit Mart.” Twenty-eight (28) of the C-stores are located in Kentucky and three (3) are located in Tennessee. Twenty-seven (27) of the locations include the ownership of land and buildings and four (4) are leaseholds.
The closing amount is subject to a customary post-closing adjustment based on the final working capital balance, but TA currently expects that any such adjustment will not be material.
About TravelCenters of America LLC:
TA primarily operates and franchises travel centers under the “TravelCenters of America”, “TA”, “Petro Stopping Centers” and “Petro” brand names that offer diesel and gasoline fueling, restaurants, truck repair facilities, stores and other services. TA’s nationwide business includes locations in 42 U.S. states and in Canada.
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