Volvo sells truckstop stake
GREENSBORO, N.C. — Volvo Trucks North America today announced that its 29 percent interest in Petro Stopping Centers Holdings, LP has been acquired by TravelCenters of America.
Volvo received $46.3 million upon the closing of the transaction this week. The company characterized the sale as a testament to the growing strength of its dealer network.
“Our dealers have truly embraced Volvo’s commitment to world-class service, and over the past several years, together we have made significant investments to dramatically expand and enhance our network,” said Peter Karlsten, president and CEO of Volvo Trucks North America. “As a result of these efforts, we are now in a position to fully support our customers’ parts and service requirements through our dealer network.”
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