LOUISVILLE, Ky. -- A local gas station chain is getting a new owner.
Thorntons is being acquired by a joint venture of BP and ArcLight Capital Partners but according to a release the nearly 200 stores across six states will continue to operate under the Thorntons name. The deal also calls for the Thorntons Store Support Center in Louisville to remain open.
CEO Matt Thornton, whose family has run the company for the last 47 years, calls the partnership a "win-win for everyone involved." The deal will close after gaining necessary regulatory approval.
The terms of the deal were not announced.