BP begins rebranding TA forecourts

Dive Brief:

BP has begun rebranding many TravelCenters of America forecourt canopies to its own banner or the Amoco brand, a spokesperson for the oil and retail company confirmed.
Around 70 TA locations already had BP or Amoco branded canopies when BP acquired the travel center chain last year, the spokesperson said. Converting additional locations will help grow BP’s convenience and mobility business in the U.S., they noted.
BP acquired TA for $1.3 billion in 2023, about 16 years after the oil giant left the c-store business. This marked a major milestone in the company’s re-entry into fully owned and operated c-stores, once again making it a top player in the space.

Dive Insight:

While BP’s spokesperson said that the company will “continue to develop our strategy and plans to convert more of our network,” they did not specify if the company will eventually rebrand all of TA’s nearly 300 locations.

BP took to social media this week noting that 15 sites have so far been converted, with plans for 50 more to be rebranded by the end of the year. Additionally, the social post noted that all TA sites within BP’s footprint east of the Rocky Mountains will “soon” have the BP or Amoco banner.

Almost a year after acquiring TA, BP’s convenience business has “remained really robust,” Murray Auchincloss, CEO of BP, said during the company’s earnings call on Feb. 6. Auchincloss noted that he’s surprised at how successful this arm of the company has been given challenges from COVID-19 lockdowns, Russia’s invasion of Ukraine and economic slowdowns.

TA’s gross margins have grown 9% per year despite these challenges, Auchincloss noted.

“We've started to integrate Ampm with Thorntons with TA together in a way that we haven't in the past,” Auchincloss said during the call. “You're just driving much more efficiency into that business.”

London-based BP owns a variety of convenience retailing brands across the U.S. Besides its own branded stores and those of the Thorntons arm, BP’s umbrella also includes Amoco, Ampm and TravelCenters of America. Its U.S. headquarters are in Houston.