Quaker Steak & Lube Receives Acquisition Bid From Travelcenters of America
Quaker Steak & Lube announced that TravelCenters of America LLC has agreed to acquire Quaker Steak & Lube’s restaurant and related assets for around $25 million.
Founded in 1974, Quaker Steak & Lube has more than 50 locations across 16 states. TA, a Fortune 500 publicly-traded company, operates over 500 full- and quick-service restaurants, principally located in 253 full-service travel centers and 184 convenience stores in 43 states.
“TravelCenters of America brings in-depth experience and resources to help Quaker Steak & Lube build upon our system’s positive performance and help us fully realize our expansion goals,” says Greg Lippert, chief executive officer…