TA Completes Travel Ports Acquisition, Opens Prototype Stop
June 10, 1999
TravelCenters of America has completed its merger with Travel Ports of America, and recently opened its first prototype truckstop.
TA acquired all outstanding shares of Travel Ports for $4.30 per share. The acquisition by TA of Travel Ports, a regional network of 16 travel centers located primarily in the Northeast, will expand the TA network to 162 locations in 40 states.
"The completion of the Travel Ports acquisition keeps us on target for our network growth plans," says Ed Kuhn, TA president and chief executive officer.
The development of full-service, state-of-the-art facilities, along with a wide array of offerings, including diesel fuel, gasoline, restaurants, retail stores, truck service and maintenance shops, quick-serve restaurants, motels, showers and game rooms, are key elements of the company's long-term plan. TA opened its first new prototype facility in Commerce City, CO, on May 22. TA plans to use the new building design in all its new-build and re-imaged facilities as part of its $250 million network-wide capital improvement plan.