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Slide #12. TravelCenters of America — 31 C-Stores/Gas Stations
TravelCenters of America (NASDAQ:TA)
31 C-Stores/Gas Stations
Travel Centers of America LLC (NYSE:TA) today announced that it has agreed to acquire 31 convenience stores with retail gasoline stations ("C-stores") for $67 million, before closing costs and customary working capital adjustments. The seller is a private company which operates these C-stores under its proprietary brand name "Minit Mart".
TravelCenters of America operates or franchises travel centers, standalone truck service facilities and standalone restaurants. Co.'s customers include trucking fleets and their drivers, independent truck drivers, highway and local motorists and casual diners. Co. also collects rents, royalties and other fees from its tenants and franchisees. Co.'s travel centers provide products and services, including diesel fuel and gasoline, as well as nonfuel products and services such as truck repair and maintenance services, full service restaurants, and quick service restaurants. Co.'s standalone truck service facilities provide maintenance and emergency repair and roadside services to trucks.
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Strong Buy (4.00 out of 4)