bp to acquire the remaining stake in Thorntons from ArcLight Capital Partners.

bp, an oil and petrochemicals company, agreed to acquire the remaining stake in Thorntons, a retailer, from ArcLight Capital Partners, a private equity firm. Financial terms were not disclosed. Once the transaction is complete, bp will become a convenience operator in the Midwest, with 208 owned and operated locations across six states, including Kentucky, Illinois, Indiana, Ohio, Tennessee and Florida. bp plans to retain and build on the Thorntons brand. "We have a proud history of high-quality retail brands across the country. Incorporating Thorntons into our business combines their customer-first culture with our existing US retail network and will help us deliver our convenience strategy of offering customers what they want, where and when they want it," David Lawler, bp Chairman and President of America.