RICHMOND, Va., Nov. 10, 2021 (GLOBE NEWSWIRE) — GPM Investments, LLC, a wholly owned subsidiary of ARKO Corp. (Nasdaq: ARKO), today announced the closing of the acquisition of the Handy Mart chain, including 36 convenience stores with gas in North Carolina and one development parcel. This acquisition complements GPM’s existing retail store network in North Carolina.
“Handy Mart is a strong regional brand with great people and a robust culture that will make a fantastic addition to our family of community brands,” said Arie Kotler, Chairman, President and Chief Executive Officer of ARKO. “We look forward to expanding further in the Carolinas and providing customers with the high-quality products and service associated with our existing banner stores. We pride ourselves on the ability to unify and maintain the banners of strong regional community brands under our leadership and resources.”
This acquisition brings GPM to approximately 3,100 locations of which approximately 1,415 are company-operated and approximately 1,675 are dealer sites to which ARKO supplies fuel. It is ARKO’s 20th acquisition since 2013, emphasizing the Company’s aggressive growth strategy.
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 3,100 locations in 33 states and the District of Columbia, comprised of approximately 1,415 company-operated stores and approximately 1,675 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. To learn more about GPM stores, visit: www.gpminvestments.com. To learn more about ARKO, visit: www.arkocorp.com.
