Loves Announces 2011 Capital Expenditure Plans
Company to Spend $240 Million on Enhancements to Current Locations and New Construction
OKLAHOMA CITY, JAN. 25, 2011 — Love's Travel Stops & Country Stores (Love's), a leading national operator of travel centers and convenience stores based in Oklahoma City, today announced planned capital expenditures of $240 million for calendar year 2011.
The majority of this amount, $180 million, will be spent on new construction. Over 20 new travel stop locations will open this year, from Napavine, WA to Emerson, GA. Also, over $50 million will go towards enhancements at existing Love's Travel Stop locations. Slated improvements include adding over 50 Love's Truck Tire Care centers to current locations, parking lot expansions, re-imaging of restaurants and remodeling restrooms.
"Love's is committed to providing the best possible facilities and services that matter to the driving public," said Tom Love, Love's chairman and CEO. "We have listened to customer feedback when designing these improvements, which will make our travel stops more appealing and convenient."
About Love's Travel Stops & Country Stores
Founded in 1964 by Tom Love, Love's Travel Stops & Country Stores is headquartered in Oklahoma City, Okla., and remains family owned and operated. With more than 260 locations in 39 states, Love's continues its growth to meet the needs of professional drivers and the motoring public. Love's is currently ranked No.18 on Forbes Magazine's annual list of America's largest private companies. From the first filling station in Watonga, Okla., the Love's commitment has remained the same: "Clean Places, Friendly Faces." For more information, please visit www.loves.com.