ARKO Corp., the 6th Largest Convenience Store Operator, Announces Close of ExpressStop Acquisition
RICHMOND, Va., May 19, 2021 (GLOBE NEWSWIRE) -- GPM Investments, LLC, a wholly owned subsidiary of ARKO Corp. (Nasdaq: ARKO), today announced the closing of the acquisition of the ExpressStop chain, including 60 convenience stores with gas in Michigan and Ohio. This acquisition complements GPM’s consolidation strategy and adds to its already existing stores in Michigan and Ohio.
“We are excited to complete this transaction and welcome ExpressStop to the GPM family of community brands,” said Arie Kotler, Chairman, President and Chief Executive Officer of ARKO. “As our 19th acquisition since 2013, ExpressStop is the latest example of our continued commitment to aggressive growth through the acquisition of strong regional community brands. We look forward to providing ExpressStop customers with the same great products and service they have come to expect with additional value through our fas REWARDS loyalty program and promotional activities throughout the year.”
This acquisition brings GPM to approximately 3,000 locations of which approximately 1,400 are company-operated and approximately 1,625 are dealer sites to which we supply fuel.
About ARKO Corp.
ARKO Corp. (Nasdaq: ARKO) owns 100% of GPM Investments, LLC (“GPM”). Based in Richmond, VA, GPM was founded in 2003 with 169 stores and has grown through acquisitions to become the 6th largest convenience store chain in the United States, operating or supplying fuel to approximately 3,000 locations in 33 states and the District of Columbia, comprised of approximately 1,400 company-operated stores and approximately 1,625 dealer sites to which we supply fuel. We operate in three reportable segments: retail, which consists of fuel and merchandise sales to retail consumers; wholesale, which supplies fuel to third-party dealers and consignment agents; and GPM Petroleum, which supplies fuel to our sites (both in the retail and wholesale segments). Our stores offer fas REWARDS® high value loyalty program, a large selection of beverages, coffee, fountain drinks, candy, salty snacks, and many other products to meet the needs of the everyday customer.
This document includes certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may address, among other things, our expected financial and operational results and the related assumptions underlying our expected results. These forward-looking statements are distinguished by use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “will,” “would” and the negative of these terms, and similar references to future periods. These statements are based on management’s current expectations and are subject to uncertainty and changes in circumstances. Actual results may differ materially from these expectations due to, among other things, changes in economic, business and market conditions; our ability to maintain the listing of our common stock and warrants on the Nasdaq Stock Market; changes in our strategy, future operations, financial position, estimated revenues and losses, projected costs, prospects and plans; expansion plans and opportunities; changes in the markets in which we compete; changes in applicable laws or regulations, including those relating to environmental matters; market conditions and global and economic factors beyond our control, including the potential adverse effects of the ongoing global coronavirus (COVID-19) pandemic on capital markets, general economic conditions, unemployment and our liquidity, operations and personnel; and the outcome of any known or unknown litigation and regulatory proceedings. Detailed information about these factors and additional important factors can be found in the documents that ARKO files with the Securities and Exchange Commission, such as Form 10-K, Form 10-Q and Form 8-K. Forward-looking statements speak only as of the date the statements were made. ARKO assumes no obligation to update forward-looking information, except as required by applicable law.
Matter on behalf of ARKO
Released May 19, 2021