Love’s adds new type of locations via acquisition

Love’s Travel Stops has completed its acquisition of EZ Go, from  Oklahoma-based Carey Johnson Oil Company. 

The acquisition includes six travel stops located on Oklahoma turnpikes, five on the Kansas turnpike and 11 convenience stores in Oklahoma and Nebraska. This is the first time Love’s footprint will include locations on a turnpike, and is part of the company’s commitment to add stores in areas of high demand. Terms of the deal were not disclosed.

The EZ Go turnpike locations are expected to be branded Love’s in the next 12 months.  Earlier this week, Love’s announced a remodel initiative to  invest more than $1 billion in updating 200 locations during  the next five years. 

"We are excited to add locations in Oklahoma, Kansas and Nebraska and welcome nearly 400 new team members to the Love’s Family of Companies,” said Shane Wharton, president of Love’s. “The opportunity to expand into serving commercial and casual customers on the two state turnpikes supports our strategic priority of pursuing adjacent acquisition opportunities. In addition to being family-owned, we share a similar culture with the seller in that we operate on a customer-centric model focused on an extensive assortment of products, superior customer experience and inviting environment."

Downstream Energy Group (DEG) provided exclusive merger and acquisition advisory services to Carey Johnson Oil Company  during the Love’s transaction. 

For professional drivers, the EZ Go turnpike locations include amenities such as parking, diesel and DEF. The retail operations are composed of groceries, beverages, snacks, tobacco, gifts, fresh food, dispensed beverages and other consumer goods. 

EZ Go is co-located with numerous franchise food concepts and owns and operates the restaurant concept Back Forty Barbecue at two locations.

Love’s Travel Stops has  more than 610 Love’s locations in 42 states and 22 EZ Go locations. Founded in 1964 and headquartered in Oklahoma City, the company remains family-owned and operated and employs more than 39,000 people. 

Love’s provides professional truck drivers and motorists with 24-hour access to clean and safe places to purchase gasoline, diesel fuel, fresh coffee, restaurant offerings and more. The company has over 430 truck service centers, which include Speedco and Love’s Truck Care locations. Love’s and Speedco combined is the largest oil change, preventive maintenance and total truck care nationwide network with over 1,500 maintenance bays and 1,200 emergency roadside vehicles available for customers.