TravelCenters of America is the largest truck stop operator and travel hub in the United States. The company operates a full-service center, department store, and restaurant under TravelCenters of America, TA, Petro, Petro Stopping Center, Minit Mart, and Quaker Steak & amp; Brand lubricants. TravelCenters of America is headquartered in Westlake, Ohio, operating in 43 US states, and employs over 20,000 people, by 2018.
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Company description and affairs
TravelCenters of America (TA) is the largest truck stop and travel operator in the United States, with approximately 250 full service locations along the Interstate Highway System in 43 US and Canadian states, plus independent shops and restaurants in more than 10 states, in 2018. This publicly traded limited company is headquartered in Westlake, Ohio and employs over 20,000 people.
TA Division includes TA Restaurant Group and TA Truck Service. Brands include TravelCenters of America, TA, Petro, and Petro Stopping Centers; about 250 shops and restaurants usually operate under Minit Mart and Quaker Steak & amp; Brand Lube, respectively. Together, these brands offer diesel and gasoline, full service and fast-food restaurants, maintenance and repair services for trucks, and other daily necessities, between other products and services.
Andrew Rebholz became chief executive officer (CEO) in 2018. In November 2017, Barry Richards was appointed president and chief operating officer, and William Myers was appointed executive vice president (EVP), chief financial officer (CFO), and treasurer.
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History
TravelCenters of America was founded by Phil Saunders in 1972 as Truckstops of America. The company was among the country's first trucking chains, and was bought by Ryder later that year. Standard Oil of Ohio acquired the chain in 1984. After Standard Oil was purchased by BP, the multinational oil and gas company sold TA to the Clipper Group in 1993. The chain merged with National Auto/Truckstops in 1997, resulting in the new name TravelCenters from America Inc. (TA). In the late 1990s, TA bought seventeen Burns Bros. Travel Stops, then join more than a dozen Travel Ports of America units. In 2000, the company has 160 locations in 40 US states, 12,500 employees, and annual sales of $ 1.5 billion. TA was acquired by Oak Hill Capital Partners in 2000.
TA ranked # 94 and # 60 on the Forbes list ' from the largest private companies in 2005 and 2006, respectively. In 2006, the Hospitality Properties Trust (HPT) agreed to acquire the company for approximately $ 1.9 billion. The acquisition was completed in January 2007, and TA shares began trading on the US Stock Exchange on February 1. TA continues to operate as a wholly-owned subsidiary of HPT, which continues to be the largest shareholder of TA, by mid 2015. In May 2007, TA acquired operations from El Paso-based Petro Stopping Center, and rented 40 Petro locations from HPT.
RDG Capital Management encourages TA to implement a $ 100 million stock buyback plan by 2015 to raise its share price, in addition to renting and selling more of the company's property. TA was selected to sign a $ 400 million resale deal with HPT. In mid-2016, the company's board of directors rejected a purchase filed by private equity firm Golden Gate Capital in December 2015. The offer was $ 14 per share, with a TA valuation of $ 540 million. TA filed a lawsuit against Comdata in November in response to allegations of payment processor providers that TA violated the agreement. The Delaware Court of Chancery ordered Comdata to comply with contract terms and replace TA for excess fees charged since February 2017, plus interest and attorney fees. The final court verdict is still waiting, in March 2018.
During 2015-2017, TA redesigned 56 Minit Mart and 24 Petro or TA locations. The company also focuses on providing truck drivers with electronic logging equipment solutions, following the mandate issued by the Federal Carrier Safety Administration in 2015. TA ranked 17th in the 2017 magazine final list of CSP from the greatest convenience of US chain stores. The company is also recognized by the New York Women Forum because it has a board with 40 percent female representation. In November 2017, president and CEO Thomas O'Brien announced his resignation effective December 31. The council promoted Barry Richards, who later served as EVP, to the president and the role of chief operating officer, and named William Myers, who held senior vice president and chief accounting officer position, for EVP, CFO and treasurer. Adam Portnoy replaces O'Brien as managing director of the board. Andrew Rebholz became CEO in early 2018, having previously served as EVP, CFO, and treasurer.
TA partnered with the Wex payment solutions provider in February 2018 to provide fuel card services to approximately 500 TA locations across the US. The company also confirmed sponsorship of the "truck service challenge" competition for the NASCAR Cup Energy Monster Series and NASCAR Xfinity Series. TA expanded its Westlake headquarters in March 2017 by purchasing a nearby building.
TA Fund for the Construction of Driver and St. Christopher, who helps truck drivers struggling financially as a result of health problems, every year since 2010. The company is the largest contributor to the fund. The company has been listed in the Fortune 500 for ten years, and is ranked # 470, by 2018.
Division
TA Restaurant Group
TA Restaurant Group, a division of TravelCenters of America LLC, has 43 national and regional restaurant brands and approximately 6,200 employees, by April 2016. The division operates approximately 850 restaurants and branded food stores as Country Pride, Iron Skillet and Quaker Steak & ; Lube, among others.
TA complete Quaker Steak & amp; Lube restaurant chain in April 2016. There are about 50 Quaker Steak & amp; Lubricant restaurants in 14 states, by 2018. Quaker Steak & amp; Lube continues to focus on franchise development. The division is targeting airports, educational institutions, kiosks and stadiums, replicating the success experienced at Cleveland Hopkins International Airport and the location of Pittsburgh International Airport.
During 2015-2017, TA adds 26 Godfather's Pizza, 4 Pizza Hut, and the first Fazoli location. The TA Restaurant Group division operates four Fazoli restaurants in March 2018.
TA Truck Service
The TA Truck Service Division offers nationwide trucking and maintenance facilities. The Commercial Tire Network The TA Truck Service was inaugurated in November 2016, and includes about 1,000 service stations for trucks, some 3,000 truck service technicians, and about 2,000 road assistance and maintenance units, as of September 2017. It is considered the largest independent commercial in the country. tire dealers. The network has launched a radio program called "Kickin 'the Tyres", which airs on Sirius XM Holdings ' Road Dog Trucking Channel.
In 2017, TA created the label "TA Certified", and partnered with an auction company to certify the condition of a used truck before it was sold. The National Call Service Service The TA Truck Service and the emergency service operations of RoadSquad were transferred to a new facility in Westlake in September 2017. This facility accommodates other TA customer support staff.
References
Source of the article : Wikipedia
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