RICHMOND, Va. GPM Investments is boosting its presence in the Midwest.
The company, a wholly owned subsidiary of Arko Corp., inked an agreement to acquire 61 Express Stop convenience stores in Michigan and Ohio. The deal will complement GPM s existing 165 stores in Michigan and nine stores in Ohio. Our model of growing through acquisition while keeping the local banners in place has delivered significant value for all of ARKO s stakeholders, said Arie Kotler, chairman, president and CEO of ARKO. Michigan and Ohio are important geographies for us, and we believe that Express Stop is a highly regarded brand there. We look forward to welcoming those associates to the GPM family while providing Express Stop customers with the same great quality products and services they re used to.
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GPM Investments Begins Next Chapter as Arko Holdings & Haymaker Tie-Up Closes
RICHMOND, Va. GPM Investments parent company, Arko Holdings Ltd., closed on its business tie-up with Haymaker Acquisition Corp.
In September, Arko Holdings entered into a definitive agreement with Haymaker, a publicly traded special purpose acquisition company, to form a business combination. With the combination complete, Arko Corp. the new company moves forward as a U.S.-listed public company as GPM embarks on an aggressive remodeling program. Today marks an important milestone as we drive the next chapter of our growth as a U.S.-listed public company. We operate in an attractive and highly fragmented industry and have built a proven platform for acquisitions, as demonstrated by our successful track record of closing transactions, said Arko CEO Arie Kotler.