TravelCenters of America has agreed to acquire the Quaker Steak & Lube casual-dining chain for $25 million, in a move that will see some of its existing full-service restaurants converted to the brand as well as expanding the number of stand-alone restaurants. Founded in 1974, Quaker Steak & Lube has over 50 locations, a majority of which are franchised, in 16 states.
