Press release
bp expands mobility and convenience network completing the purchase of leading travel center operator, TravelCenters of America
- Adds a network of around 280 travel centers, strategically located on major highways across US; complementing bps US convenience and mobility business.
- Almost doubles bps global convenience gross margin.
- Brings growth opportunities for four of bps five transition growth engines including EV charging via bp pulse, convenience, biofuels/renewable natural gas (RNG) and, later, hydrogen.
- Adds EBITDA immediately, expected to grow to around $800m by 2025, underpinned by investment, integration value and synergies.
Today BP Products North America Inc., a wholly owned indirect subsidiary of BP p.l.c. (NYSE: bp), completed its $1.3 billion acquisition of TravelCenters of America Inc. (Nasdaq: TA), one of the countrys leading full-service travel center operators, marking a milestone for the US in the growth of bps strategic convenience and mobility business and welcoming thousands of additional employees into bp.
Emma Delaney, executive vice president customers & products, bp, said: We are thrilled to welcome the TravelCenters of America team to bp and give a turbo-boost to our convenience and mobility business in the US. Combining TAs sites on US highways with our brilliant retail network off the highway immediately expands our offer and doubles our global convenience gross margin.
Copyright 2023. BP p.l.c., 1 St James's Square, London, SW1Y 4PD
Registered in England and Wales, number 102498