TravelCenters Closes $67M Minit Mart Buy

In this UPDATE to a November story, TravelCenters of America LLC has just completed its acquisition of thirty-one convenience stores spread across Kentucky and Tennessee for $67.9 million, including closing costs and customary working capital adjustments. TA will continue to operate these “C-stores,” which include retail gasoline stations, under the proprietary brand name “Minit Mart.” Twenty-eight of the outlets are in Kentucky and three are in Tennessee. Twenty-seven include the ownership of land and buildings and four are leaseholds.

Company officials say “the closing amount is subject to a customary post-closing adjustment based on the final working capital balance, but TA currently expects that any such adjustment will not be material.”