BP Products North America Inc. has completed its $1.3 billion acquisition of TravelCenters of America Inc., “marking a milestone for the U.S. in the growth of bp’s strategic convenience and mobility business,” the company says.
Emma Delaney, executive vice president customers & products, bp said: “We are thrilled to welcome the TravelCenters of America team to bp and give a turbo-boost to our convenience and mobility business in the US.
“Combining TA’s sites on U.S. highways with our brilliant retail network off the highway immediately expands our offer and doubles our global convenience gross margin,” remarks Emma Delaney, executive vice president, customers and products, for bp.
“By integrating bp pulse, our fast-growing EV charging business, along with biofuels and renewable natural gas businesses – and in time, hydrogen – we can help America’s vital fleets and logistics companies decarbonize,” she adds.
The transaction will provide options to expand and continue to develop convenience and mobility offers through four of bp’s five transition growth engines: EV charging, biofuels, hydrogen and convenience. By 2030, bp aims for around half its annual investment to go into these transition growth engines, with around half of its anticipated cumulative $55 billion-$65 billion transition growth engine investment going into convenience, bioenergy and EV charging.