bp completes TravelCenters of America acquisition

The mobility company will add nearly 280 travel centers to its retail network in North America, almost doubling its global convenience gross margin.

BP Products North America completed its $1.3 billion acquisition of TravelCenters of America. This transaction marks a milestone for the mobility company in the U.S. in the growth of its strategic convenience and mobility business.

The acquisition was originally announced back in February, which aimed at complementing bp’s off-highway convenience and mobility business in the country with TA’s highway sites. After receiving regulatory approvals, the purchase was confirmed and both companies will now be able to offer nationwide service.

"We are thrilled to welcome the TravelCenters of America team to bp and give a turbo-boost to our convenience and mobility business in the US. Combining TA's sites on US highways with our brilliant retail network off the highway immediately expands our offer and doubles our global convenience gross margin,” said Emma Delaney, executive vice president customers & products at bp.

The transaction will provide options to expand and continue to develop convenience and mobility offers through four of bp's five transition growth engines - EV charging, biofuels, hydroge and convenience

By 2030, bp aims for around half its annual investment to go into these transition growth engines; with around half of its anticipated cumulative $55-65 billion transition growth engine investment going into convenience, bioenergy and EV charging.