BP Affiliate Forms Downstream JV With ArcLight

摘要

A joint venture between affiliates of BP and ArcLight Capital Partners is acquiring Thorntons, a Kentucky-based chain of convenience stores, to develop a new presence in the downstream refined products segment, according to a statement from Thorntons’ attorneys at Vinson & Elkins. Terms of the deal haven’t been disclosed, but the JV is expected to operate the existing 191 gas stations and conveniences stores under the Thorntons’ banner throughout the six states in which they are located. Thorntons is a family-owned enterprise founded in 1971.