TravelCenters of America Acquires Two Virginia Travel Centers for $45M
April 4, 2022
TravelCenters of America Inc. (TA) completed the acquisition of two Interstate 81 travel center locations — Petro Raphine and TA Lexington — for $45 million. The sites, franchised since 2011, are expected to generate approximately $9.0 million of site-level EBITDA in 2023, and Petro Raphine is undergoing renovations to expand retail space and add 170 truck parking spaces (bringing it to nearly 900 spaces).
- Buyers
- TravelCenters of America Inc.
- Targets
- Petro Raphine, TA Lexington
- Industry
- Transportation
- Location
- Virginia, United States
- Transaction Type
- Buyout
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