Holding Company Artemis Acquisition Corporation has made its first step into convenience retail, acquiring the assets of  Travel Center Partners. The transaction includes four convenience stores, one quick-service restaurant and a car wash, which are now operated under a new Travel Center Partners subsidiary.
Artemis told local reporters that the company plans to acquire a number of convenience stores and quick-service restaurants in the future. President and Chairman Pete Iodice, who founded Travel Center Partners in 2011, said that the company is currently conducting about 20 negotiations to acquire fuel retail assets. "The reason we purchased the particular c-stores we did is because they fit the business model I've had for 25-plus years," he remarked. "I always try to find underperforming stores where I think the problems can be corrected."