Foodservice

TravelCenters of America Completes Sale of Quaker Steak & Lube

$5 million for 42 locations
Quaker Steak & Lube
Photograph: Shutterstock

WESTLAKE, Ohio TravelCenters of America (TA) has completed the sale of its 42-unit stand-alone restaurant business Quaker Steak & Lube for $5 million to an undisclosed buyer.

“This strategic divestment is a significant step in support of TA’s strategy to be a more focused leader in the travel center industry,” said Jon Pertchik, CEO of TA. “The sale of the stand-alone restaurant business, which did not strategically fit within our long-term goals for the company, will allow us to further concentrate our efforts on our core travel centers business and thoughtfully execute our transformation and growth initiatives.”

TA acquired Quaker Steak & Lube in 2016. It since led a brand refresh that included a new Quaker Steak & Lube Express walk-up concept and the addition of a corporate chef.

In May 2020, TA announced a companywide reorganization to boost operational efficiency and profitability.

TravelCenters of America is the nation's largest publicly traded full-service travel center network. Founded in 1972 with headquarters in Westlake, Ohio, its nearly 20,000 employees serve customers in more than 270 locations in 44 states and Canada, principally under the TA, Petro Stopping Centers and TA Express brands. Offerings include diesel and gasoline fuel, truck maintenance and repair, convenience stores, full-service and quick-service restaurants, car and truck parking and other services and amenities dedicated to providing great experiences for professional drivers and the general motoring public.

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