Dive Brief:
- Southeastern c-store and travel center operator LV Petroleum has acquired two travel centers from Wilmoth Oil Company, according to an announcement from M&A advisor Downstream Energy Group.
- The two sites, which operate under the TravelCenters of America brand, are in Missouri, a state where Las Vegas-based LV Petroleum previously only had one location, according to the company’s website.
- As the c-store industry continues to consolidate, Wilmoth Oil joins companies like Wow! Foodmart and Team Schierl in leaving the c-store industry this year.
Dive Insight:
LV Petroleum, a sizable TA franchisee, is growing its footprint through both new builds and acquisitions. It’s expanded from having just one travel center in 2022 to a current fleet of over 30 travel centers today. It also has six new-to-industry builds under development and a pipeline of single-store acquisitions it’s looking to add in coming months, according to the announcement.
“This strategic acquisition is a transformative step for LVP,” said Quyntyn Johnson, president of LV Petroleum, in the announcement. “These travel centers represent key hubs for convenience and connectivity, and we are excited to integrate them into our network”
The two Missouri locations are the Ozarks Travel Center in Mount Vernon and TA Strafford in Strafford. Both sites have more than 100 truck parking sites and eight diesel bays, along with multiple truck service bays and foodservice concepts at each.
This acquisition comes after the company made several small deals in 2024, including buying nine stores in 90 days, Johnson told NATSO last year.
In addition to its travel centers, LV Petroleum’s operations include 35 convenience stores located in Nevada and Arizona and 71 QSRs under 22 banners.
