TravelCenters of America Inc. Acquires Two Travel Center Locations for $45 Million
Petro Raphine Expected to Be One of Largest Travel Centers in the U.S. with Nearly 900 Truck Parking Spaces
TravelCenters of America Inc. (NASDAQ:TA) today announced that it has completed the previously announced acquisition of two travel center locations for $45 million. Located along the Interstate 81 corridor in Virginia, Petro Raphine and TA Lexington have been successful TA franchise locations since 2011. TA expects to realize significantly more cashflow from owning these locations than as franchise locations and forecasts these locations will generate approximately $9.0 million of site-level EBITDA in 2023.
The Petro Raphine site is currently under renovation to add 170 new truck pa
