It’s a compelling combination.”īp’s acquisition of TA is part of a broader strategy to diversify its business and capitalize on emerging trends in the energy market. By enabling growth in EV charging, biofuels and RNG and later hydrogen, we can help our customers decarbonize their fleets. Over time, it will allow us to advance four of our five strategic transition growth engines. This deal will grow our convenience and mobility footprint across the US and grow earnings with attractive returns. We are doing exactly what we said we would, leaning into our transition growth engines. TA also offers a range of amenities such as showers, restrooms, and laundry facilities, making it a popular choice for long-haul truckers.īernard Looney, CEO bp, said: “This is bp’s strategy in action. The company’s locations are strategically placed along major highways and interstates, making them an ideal stop for travelers in need of fuel, food, or other supplies. TA operates a network of over 250 travel centers and convenience stores in 43 US states, serving over 1 million customers each day. The company has been working on developing new forms of energy, including hydrogen, as part of its strategy to transition towards a net-zero carbon future. With this acquisition, bp is positioning itself to meet the changing needs of consumers who are increasingly seeking out more sustainable, low-carbon fuel options. This acquisition, valued at approximately $5.6 billion, will provide BP with an entry point into the growing travel retail market and offer a platform to showcase new and emerging fuels such as hydrogen. Bp, one of the world’s leading oil and gas companies, has announced its plans to purchase TravelCenters of America (TA), a leading travel center operator in the United States, as part of its expansion into the convenience and mobility market.
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