bp added another major U.S. brand to its portfolio in 2023, further extending the oil company’s reach into company-owned retail.
In May, bp Products North America Inc. completed its $1.3 billion acquisition of TravelCenters of America Inc. The acquisition marks “a milestone for the U.S. in the growth of bp’s strategic convenience and mobility business,” the company said.
TravelCenters of America is a nationwide operator and franchisor of the TA, Petro Stopping Centers and TA Express travel center brands. The acquisition added a network of about 280 locations on major highways. bp is keeping the brands. London-based bp will maintain TA as a “fourth business engine,” with the other three being U.S. Mobility (the jobber and dealer branded business), Mexico Mobility and U.S. Convenience, which includes the ampm and Thorntons c-store chains. It had taken full ownership of Louisville, Kentucky-based Thorntons in 2021.