TA completes acquisition of 33 Fast N Fresh c-stores
TravelCenters of America LCC (TA) has completed the acquisition of 33 convenience stores in northern Illinois with the purchase of Fast N Fresh chain, owned by MKM Oil Co.
The acquisition is part of TA´s convenience store expansion strategy, which will see the company buy 123 stores through six new deals between August and the end of the year, reports CSP Net.
During this year, TA has already acquired two travel centers and 26 c-stores in three different deals in the first quarter, while it bought an additional 19 c-stores in the second quarter of 2015. Most of the new stores are located in Missouri, Minnesota and Kansas.
Rick Marketti, MKM Oil’s president, said that he will miss the excitement and challenges of operating the chain of 35 stores, but he and his partner Gary Kavanagh both agreed that the time had come for them to sell, after 26 years, and allow others to take the stores to the next level.
TravelCenters has stated that it expects the Fast N Fresh convenience stores to be rebranded as Minit Mart c-stores, as well as undergo reforms and improvements.