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Welsh Bids Farewell

Welsh Inc., the 76-year-old family business, completed the dissolution of its portfolio yesterday when it sold off four Petro travel centers to truckstop specialists Flying J of Brigham City, Utah.

Welsh earlier this year delt 80 Welsh Mart convenience stores and Welsh travel centers to Speedway SuperAmerica. Both deals were awarded to the highest bidder.

"We are pleased to be selling our travel plaza business to Flying J as we have confidence that they will continue to operate the plazas and participate in the community in the same manner that our family has for the past 76 years," said Bob Welsh.

Flying J, which runs approximately 130 units and is among the largest travel plaza operators in the country, is expected to close on the deal next month. The four units are located in Indiana, Michigan and Virginia. As for Welsh, the sale culminates an impressive history that saw it grow from a small operator of service stations and truckstops to a 1,400-employee operation that was Mobil Oil's largest fuel marketer in the U.S. The chain also built a strong reputation in foodservice, carrying major regional and national brands like Wendy's, Subway, Aurelio's, Burger King and White Castle.

Welsh is being advised in the transaction by investment bankers William Blair and Co. LLC and the law firm Schiff Hardin & Waite.
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