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OKLAHOMA CITY — Love’s Travel Stops & Country Stores Inc. has placed a full-on bet on compressed natural gas (CNG), agreeing to acquire Trillium CNG. Terms of the transaction were not announced.
The acquisition of Chicago-based Trillium will add 37 public-access CNG locations to the Love’s Travel Stops network, bringing the number of Love’s-operated public CNG facilities to 65.
“The acquisition of Trillium CNG provides Love’s with a great opportunity to leverage the very best of two companies,” said Frank Love, co-CEO of Love’s. “Trillium’s established network of CNG locations and its deep expertise within the industry will also allow Love’s to serve new types of customers in new markets, while expanding reach to existing customers.”
Trillium’s client base mostly consists of transit authorities, school districts, airport fleets and the general motoring public. It delivers more than 55 million gallons of CNG per year.
According to Love, the retailer's existing customers will now have the option to fill up with CNG at any Trillium location, which will increase their options considerably.
“Many of our customers, including fleets and motorists, appreciate the stable pricing that CNG offers, so we’ve remained committed to developing our CNG network,” said Love. “We also understand the demand for cleaner-burning fuels remains steady and we want to provide more options for our customers.”
CNG is touted as being locally produced and more environmentally friendly when compared to traditional gasoline.
The acquisition is subject to regulatory review.
Oklahoma City-based Love’s Travel Stops & Country Stores has more than 360 locations in 40 states.