TD Pete's Chain in Illinois Sells to TravelCenters
BRADLEY, Ill. — The TD Pete's chain in northeast Illinois is changing hands. In a deal that closed Thursday, TravelCenters of America LLC purchased TD Pete's five convenience and gas stores.
Brian Rogers and Perry Denault, who have been working together for 26 years, opened TD Pete's in 2000.
"We have been blessed to employ a loyal team that represented the Shell and Dairy Queen brands with honor. We thank them both and our customers. It's been a privilege to serve and support the communities we've been a part of our entire lives," Rogers said.
The sale comes as TravelCenters has been making a big push into the convenience channel. In 2015, the company acquired approximately 153 convenience store locations, including more than 100 in the latter part of the third quarter, as CSNews Online previously reported.
Downstream Energy Partners LLC, based in Chicago, provided merger and acquisition advisory services to Bradley-based TD Pete's.
"TA has acquired a quality chain of stores in a location strategic to their growing Midwest footprint," said Steve Griffin, managing partner of Downstream Energy Partners. He added that Rogers and Denault "have built an exceptional company."
TravelCenters of America, based in Westlake, Ohio, has more than 250 TA and Petro Stopping Centers locations off interstate highway exits. The company also operates approximately 200 gas stations and convenience stores under the Minit Mart brand name.