WESTLAKE, Ohio — TravelCenters of America LLC has purchased MKM Oil Co.’s Fast N Fresh chain, completing on if its previous disclosed acquisitions of 33 convenience stores in Northern Illinois, according to CSPnet.com.
“The deal is part of the company’s recently announced strategy to dramatically expand its c-store network with six separate new deals it will consummate between August and the end of the year,” stated the article.
TravelCenters of America started its c-store expansion strategy after purchasing 31 Minit Mart stores located in Bowling Green, Kentucky, in 2013, reported the article.
The company then remained pretty idle in its expansion until a recent burst in growth, continued the article, increasing from 34 locations in the beginning of 2015 to 114, which includes those under contract.
TravelCenters of America acquired two travel centers and 26 c-stores during the first quarter of 2015, informed the article, and the company acquired another 19 c-stores during the second quarter.
Thomas O’Brien, CEO of TravelCenters of America, announced during a recent second-quarter 2015 earnings call that the company has agreed to the acquisition of 123 additional c-stores in six separate transactions, noted the article.
You can find the article here.