Chile’s Enex expands abroad with $289mn U.S. travel center acquisition

Enex, subsidiary of Chilean conglomerate Quiñenco, has agreed to acquire Road Ranger travel centers for US$ 289 million.

Road Ranger is the fourth largest chain of travel centers in the United States, operating 38 convenience stores and service stations in main thoroughfares of Texas, Illinois, Iowa, Indiana, Missouri, and Wisconsin.

The travel centers offer fuel supply, restaurants, and a wide range of services for motorists and transport companies.

Francisco Pérez Mackenna, CEO of Quiñenco and Chairman of Enex, said that the acquisition “does not only represent an important step in the development of Enex, but is also consistent with the internationalization strategy that Quiñenco has been pursuing in recent years.”

The transaction is set to be completed in the coming months, once the agreed conditions are met and all the required permits are obtained, according to a company release.

Enex, established in June 2011 as a Shell licensee in Chile, has consolidated its position as one of Chile’s main players in the fuel distribution industry. Over the last five years, it has formed a network of 454 service stations and has launched a new concept of convenience stores, upa!