The purchase, which TA said came unsolicited, follows the c-store and gas station’s turnaround efforts, which resulted in several quarters of improved performance for the chain. The new restaurant was first teased in the company’s third-quarter earnings call last year when TA CEO Jon Pertchik said the c-store would launch a new proprietary restaurant brand and add more IHOP locations.
TA closed about 90% of its restaurants during the COVID-19 pandemic, but it has since reopened 80% of them, according to the November 2022 call. TA offers numerous restaurant concepts across its portfolio of over 280 locations across 44 states. These include Country Pride, Iron Skillet, “R” Place, Johnson’s Corner, Black Bear Diner, Bob Evans, Boston Market, IHOP and Fuddruckers. Its locations also have a mix of 19 fast-food restaurants, including Starbucks, Burger King, Subway, Wendy’s and Taco Bell.