BP Products North America has completed its US$1.3 billion acquisition of TravelCenters of America.

Through the acquisition of TravelCenters of America, bp will significantly expand its mobility and convenience network. This purchase adds approximately 280 travel centers, strategically positioned along major US highways, which complements bp's existing convenience and mobility business in the country. Moreover, this transaction nearly doubles bp's global convenience gross margin. It also presents growth prospects for four out of bp's five transition growth engines, including EV charging through bp pulse, convenience services, biofuels/renewable natural gas (RNG), and future opportunities in hydrogen.

With the close of the acquisition, TravelCenters of America common shares have been converted into the right to receive US$86 per share.