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TravelCenters of America LLC Responds to Media Reports

6/16/2016

WESTLAKE, Ohio--(BUSINESS WIRE)-- TravelCenters of America LLC (NYSE:TA) today confirmed that it received a non-binding letter from a private equity firm in December 2015 asking to have confidential discussions about that firm possibly buying TA. TA confirmed that the TA Board of Directors responded to that firm that the interests of TA were best served by pursuing TA's existing business plans.

In its response, the TA Board agreed with the private equity firm that TA's assets, business model and competitive position have tremendous potential. The TA Board further articulated its belief that TA has the management team and other resources appropriate to realize such potential. The TA Board did not agree that the bulk of TA's potential should be transferred to the private equity firm through a buyout.

About TravelCenters of America LLC:

TravelCenters of America LLC (TravelCenters), headquartered in Westlake, Ohio, conducts business in 43 states and Canada, principally under the TA® and Petro Stopping Centers® travel center brands and the Minit Mart® convenience store brand. For more information on TravelCenters, TA, and Petro Stopping Centers, please visit www.ta-petro.com. For more information on Minit Mart, please visit www.minitmart.com.

WARNING REGARDING FORWARD LOOKING STATEMENTS

THIS PRESS RELEASE CONTAINS FORWARD LOOKING STATEMENTS WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND OTHER SECURITIES LAWS. ALSO, WHENEVER TA USES WORDS SUCH AS BELIEF, POTENTIAL, EXPECTS, INTENDS, ANTICIPATES, ESTIMATE, WILL, MAY, OR SIMILAR EXPRESSIONS, TA IS MAKING OR HAS MADE FORWARD LOOKING STATEMENTS. THESE FORWARD LOOKING STATEMENTS ARE BASED UPON TA'S CURRENT INTENTIONS, BELIEFS OR EXPECTATIONS OR TA'S BELIEFS OR EXPECTATIONS AT THE TIME THE STATEMENTS WERE MADE, BUT THEY ARE NOT GUARANTEED TO OCCUR AND MAY NOT OCCUR FOR VARIOUS REASONS. ACTUAL RESULTS MAY DIFFER MATERIALLY FROM THOSE STATED OR IMPLIED BY FORWARD LOOKING STATEMENTS. FOR EXAMPLE,

  • THIS PRESS RELEASE STATES THAT: THE TA BOARD AGREED WITH A PRIVATE EQUITY FIRM'S ASSESSMENT OF TA'S TREMENDOUS POTENTIAL; TA'S BOARD ARTICULATED ITS BELIEFS THAT TA HAS THE MANAGEMENT TEAM AND OTHER RESOURCES TO REALIZE SUCH POTENTIAL; THE TA BOARD DID NOT AGREE THAT THE BULK OF TA'S POTENTIAL SHOULD BE TRANSFERRED TO THE PRIVATE EQUITY FIRM; AND TA'S BOARD RESPONDED TO THE PRIVATE EQUITY FIRM'S INQUIRY THAT TA'S LONG TERM VALUE AND BEST INTERESTS WERE SERVED BY PURSUING TA'S EXISTING BUSINESS PLANS. THESE STATEMENTS MAY IMPLY THAT THE VALUE OF TA'S SECURITIES MAY INCREASE. TA CANNOT AND DOES NOT INTEND TO PREDICT THE FUTURE VALUE OF TA'S SECURITIES. THE FUTURE VALUE OF TA'S SECURITIES WILL DEPEND UPON MANY CIRCUMSTANCES, INCLUDING SOME BEYOND TA'S CONTROL, SUCH AS THE COMPARATIVE NUMBER OF BUYERS AND SELLERS OF TA SECURITIES, GENERAL MARKET CONDITIONS AND GENERAL ECONOMIC CONDITIONS.

THE INFORMATION CONTAINED IN TA'S FILINGS WITH THE SECURITIES AND EXCHANGE COMMISSION, OR THE SEC, INCLUDING UNDER THE CAPTION "RISK FACTORS" IN TA'S PERIODIC REPORTS OR INCORPORATED THEREIN MAY CAUSE TA'S ACTUAL RESULTS TO DIFFER MATERIALLY FROM THOSE STATED OR IMPLIED IN THIS PRESS RELEASE. TA'S FILINGS WITH THE SEC ARE AVAILABLE ON THE SEC'S WEBSITE AT WWW.SEC.GOV.

FOR THESE REASONS, AMONG OTHERS, INVESTORS ARE CAUTIONED NOT TO PLACE UNDUE RELIANCE UPON FORWARD LOOKING STATEMENTS OR THEIR IMPLICATIONS.

EXCEPT AS REQUIRED BY LAW, TA DOES NOT INTEND TO UPDATE OR CHANGE ANY FORWARD LOOKING STATEMENTS AS A RESULT OF NEW INFORMATION, FUTURE EVENTS OR OTHERWISE.

TravelCenters of America LLC
Katie Strohacker, 617-796-8251
Senior Director, Investor Relations

Source: TravelCenters - Financial

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