ARKO Corp., the 6th Largest Convenience Store Operator in the Country, Announces its 20th Acquisition with the Purchase of the Handy Mart Chain in North Carolina

Rhea-AI Summary

ARKO Corp. (Nasdaq: ARKO) has successfully closed the acquisition of the Handy Mart chain, adding 36 convenience stores with gas in North Carolina and a development parcel. This move complements GPM Investments' existing network, bringing its total locations to approximately 3,100. With Handy Mart's strong regional brand, ARKO aims to enhance its presence in the Carolinas. The acquisition marks ARKO's 20th since 2013, showcasing its aggressive growth strategy in the convenience store sector.

Positive

• Acquisition of Handy Mart adds 36 convenience stores, enhancing GPM's footprint.
• Strategic move aligns with ARKO's aggressive growth strategy, now totaling approximately 3,100 locations.
• Strengthened presence in the Carolinas with a well-regarded brand.

Negative

• None.

RICHMOND, Va., Nov. 10, 2021 (GLOBE NEWSWIRE) -- GPM Investments, LLC, a wholly owned subsidiary of ARKO Corp. (Nasdaq: ARKO; “ARKO” or the “Company”), 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 20^th 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.

Forward-Looking Statements
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.

Media Contact
Andrew Petro
Matter on behalf of ARKO
(978) 518-4531
apetro@matternow.com

Investor Contact

Chris Mandeville
ICR on behalf of ARKO
ARKO@icrinc.com

FAQ

What is the significance of ARKO's acquisition of Handy Mart?

The acquisition enhances ARKO's convenience store network in North Carolina and highlights its growth strategy.

How many stores does ARKO operate after acquiring Handy Mart?

After the acquisition, ARKO operates approximately 3,100 locations across the United States.

What are the growth ambitions of ARKO Corp. following this acquisition?

ARKO aims to further expand its market presence, leveraging Handy Mart's regional brand strength.

When was the Handy Mart acquisition officially closed?

The acquisition was officially closed on November 10, 2021.