TravelCenters of America Completes Acquisition of 31 C-Stores/Gas Stations
for $68 Million
WESTLAKE, Ohio -- December 17, 2013
TravelCenters of America LLC (NYSE:TA) today announced that it has completed
its previously announced acquisition of thirty-one (31) convenience stores
with retail gasoline stations (“C-stores”) for $67.9 million, including
closing costs and customary working capital adjustments. TA will continue to
operate these C-stores under the proprietary brand name “Minit Mart.”
Twenty-eight (28) of the C-stores are located in Kentucky and three (3) are
located in Tennessee. Twenty-seven (27) of the locations include the ownership
of land and buildings and four (4) are leaseholds.
The closing amount is subject toacustomarypost-closingadjustment based on
the final working capital balance, but TA currently expectsthat any such
adjustment will not bematerial.
About TravelCenters of America LLC:
TA primarily operates and franchises travel centers under the “TravelCenters
of America”, “TA”, “Petro Stopping Centers” and “Petro” brand names that offer
diesel and gasoline fueling, restaurants, truck repair facilities, stores and
other services. TA’s nationwide business includes locations in 42 U.S. states
and in Canada.
WARNING REGARDING FORWARD LOOKING STATEMENTS
THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF
THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES
LAWS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON TA’S CURRENT INTENT,
BELIEFS AND EXPECTATIONS BUT THEY ARE NOT GUARANTEED TO OCCUR AND MAY NOT
OCCUR FOR VARIOUS REASONS. FOR EXAMPLE, THIS PRESS RELEASE STATES THAT THE
ACQUISITION PRICE TA PAID IN THIS TRANSACTION IS SUBJECT TO A CUSTOMARY
POST-CLOSING ADJUSTMENT BASED ON THE FINAL WORKING CAPITAL BALANCE, BUT THAT
TA EXPECTS THAT ANY SUCH ADJUSTMENT WILL NOT BE MATERIAL. HOWEVER, THE AMOUNT
OF ANY SUCH ADJUSTMENT MAY BE MATERIAL.
RESULTS THAT DIFFER FROM THOSE STATED OR IMPLIED BY TA’S FORWARD LOOKING
STATEMENTS IN THIS PRESS RELEASE MAY BE ALSO CAUSED BY OTHER REASONS AS
DESCRIBED IN TA’S PERIODIC REPORTS FILED WITH THE SECURITIES AND EXCHANGE
COMMISSION, OR THE SEC, INCLUDING TA’S ANNUAL REPORT ON FORM 10-K FOR THE YEAR
ENDED DECEMBER 31, 2012, AND TA’S QUARTERLY REPORTS ON FORMS 10-Q FOR THE
PERIODS ENDING MARCH 31, JUNE 30 AND SEPTEMBER 30, 2013, IN SECTIONS OF THOSE
REPORTS TITLED “WARNING REGARDING FORWARD LOOKING STATEMENTS” AND “RISK
FACTORS” AND ELSEWHERE IN THOSE REPORTS. COPIES OF THOSE REPORTS ARE PUBLICLY
AVAILABLE AT THE SEC’S WEBSITE: WWW.SEC.GOV.
INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING
STATEMENTS IN THIS PRESS RELEASE.
EXCEPT AS MAY BE REQUIRED BY APPLICABLE LAW, TA DOES NOT UNDERTAKE ANY
OBLIGATION TO REVISE OR UPDATE ANY FORWARD LOOKING STATEMENTS AS A RESULT OF
NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.
TravelCenters of America LLC
Timothy A. Bonang, 617-796-8251
Vice President of Investor Relations
Katie Strohacker, 617-796-8251
Senior Manager of Investor Relations
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