TravelCenters of America purchases c-store chain
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TravelCenters of America purchases c-store chain

WESTLAKE, Ohio — The company started its convenience store expansion strategy after purchasing 31 Minit Mart stores in 2013.

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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.

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“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.

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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.

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