EG Group to acquire Minit Mart from TravelCenters of America for $330.8m.

EG Group, a global independent convenience retailer, to acquire Minit Mart, a chain of convenience stores, from TravelCenters of America, a publicly traded full-service truck stop and travel center company, for $330.8m. “When the sale of this business is completed, TA will exit the standalone convenience store business; allowing us to increase our focus on our core travel center operation, which we believe is a business where we have many competitive advantages. We plan to use the net proceeds from this sale to reduce leverage and/or invest in travel center growth initiatives. We expect some of these growth initiatives may include expanding our industry leading truck service program and growing our nationwide network of travel centers, including investing in our recently announced TA Express travel center format and pursuing new franchising opportunities," Andy Rebholz, TravelCenters CEO.