The Traxx Cos., a Lexington-based subsidiary of the Webb Cos., has announce it will sell all 33 of its convenience store marts that are paired with Shell Oil Co. gas stations.
The announcement, by company president and CEO Jay Hall, did not identify a buyer beyond noting it was “one of the largest operators of travel plazas and convenience stores in the United States.”
However, Westlake, Ohio-based TravelCenters of America LLC announced separately that it had purchased the same number of stores along the Interstate 75 corridor between Lexington and Louisville.
The Traxx statement noted that deal includes “multiple supply contracts.”
TravelCenters said it expected the purchase to be complete after certain unnamed conditions were met. It also said the stores will undergo renovations and be rebranded as Minit Mart convenience stores.
TravelCenter, which calls itself “the largest publicly-traded operator/franchisor of full-service travel centers in the United States,” also operates TA- and Petro-branded travel centers.
Traxx Cos. was founded in 1986 by developer R. Dudley Webb and Paul Koshgerian Jr. Hall joined the following year, as did Ronald Tritschler, a Webb Cos. officer, as legal counsel.
In 1996, Traxx and Shell formed Thoroughbred Energy, with a quick expansion of reach and number locations following.