TravelCenters of America LLC TA has agreed to acquire Quaker
Steak & Lube® casual dining restaurants and
certain related assets, including existing restaurant operations,
restaurant franchise program and bottled sauces for retail sale
business, for $25 million.
Founded in 1974, Quaker Steak & Lube®, known for its
"Best Wings USA", iconic décor and original sauces, has over 50
locations, a majority of which are franchised, in 16 states, with a
concentration in Pennsylvania and Ohio. TravelCenters intends to convert
some of its existing full service restaurants to the Quaker Steak & Lube®
brand while simultaneously expanding the franchise program and the
number of stand alone company operated restaurants over time.
See full press release
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