In addition, TA’s owners, Hospitality Properties Trust, leased 40 Petro locations. The deal was reportedly worth some $700 million.
Petro was privately owned, but both Volvo and Exxon Mobil held minority stakes.
The move gives TA 69 additional truck stops and travel centers across 33 states, 44 of which were wholly owned by Petro. Prior to the acquisition, TA owned and operates 164 such facilities.
TA was acquired by Hospitality Properties Trust for $1.9 billion in September 2006.