June 1, 2007
On May 30, Willkie client Petro Stopping Centers announced that it has been acquired by TravelCenters of America LLC (TA) and Hospitality Properties Trust (HPT). Pursuant to the agreements, TA has acquired all Petro operations, including Petro’s franchise operations. HPT has acquired substantially all of the real estate assets of Petro and has leased them to TA. The combined businesses of TravelCenters of America and Petro Stopping Centers will include more than 230 locations in 41 U.S. states. Based in El Paso, TX, Petro Stopping Centers is a national travel plaza chain with 69 locations in 33 states, providing a range of amenities, such as truck fueling and maintenance, travel stores, quick-service, and casual restaurants and entertainment. The transaction was handled by partners Thomas Cerabino and Richard Reinhold, corporate associates Robert Langdon and Brett Waxman, and real estate associates Gary Litke and Matthew Kaplan.
