BP buys TravelCenters of AmericaOn Thursday, according to a news release, BP Products North America Inc., a subsidiary of BP, reached an agreement to purchase TravelCenters of America for $1.3 billion in cash. The purchase of TA is expected to add around 280 travel centers and double BP’s global convenience gross margin.
Regarding the reasons behind the acquisition, the release noted growth opportunities in EV charging, biofuels, renewable natural gas (RNG) and...