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Travelcenters Of America Inc. Acquires Two Travel Center Locations For $45 Million

Travelcenters Of America Inc. Acquires Two Travel Center Locations For $45 Million

04/04/22, 12:02 PM
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TravelCenters of America Inc. (Nasdaq: TA) today announced that it has completed the previously announced acquisition of two travel center locations for $45 million. Located along the Interstate 81 corridor in Virginia, Petro Raphine and TA Lexington have been successful TA franchise locations since 2011. TA expects to realize significantly more cashflow from owning these locations than as franchise locations and forecasts these locations will generate approximately $9.0 million of site-level EBITDA in 2023.

Company Info

Company
TravelCenters of America
Company info
TravelCenters of America Inc. (Nasdaq: TA) is the nation's largest publicly traded full-service travel center network. Founded in 1972 and headquartered in Westlake, Ohio, its more than 18,000 team members serve guests in over 275 locations in 44 states and Canada, principally under the TA®, Petro Stopping Centers® and TA Express® brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, full-service and quick-service restaurants, travel stores, car and truck parking and other services dedicated to providing great experiences for its guests. TA is committed to sustainability, with its specialized business unit, eTA, focused on sustainable energy options for professional drivers and motorists, while leveraging alternative energy to support its own operations. TA operates over 600 full-service and quick-service restaurants and nine proprietary brands, including Iron Skillet® and Country Pride®. For more information, visit www.ta-petro.com. Warning Regarding Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Whenever TA uses words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "will," "may" and negatives or derivatives of these or similar expressions, TA is making forward-looking statements. These forward-looking statements are based upon TA’s present beliefs and expectations, but these statements and the implications of these statements are not guaranteed to occur and involve known and unknown risks, uncertainties and other factors, some of which are beyond TA’s control. Among others, the forward-looking statements which appear in this press release that may not occur include: Investors are cautioned not to place undue reliance upon any forward-looking statements. Except as required by law, TA does not intend to update or change any forward-looking statements as a result of new information, future events or otherwise.

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