ARKO could be making plans to exit the C-Store industry by divesting its retail operations in a deal that could be valued at $2 billion, according to anonymous inside sources.
US-based ARKO owns 100% of GPM Investments and is one of the largest operators of convenience stores and wholesalers of fuel in the United States. ARKO operates in four reportable segments: retail, which includes convenience stores selling merchandise and fuel products to retail customers; wholesale, which supplies fuel to independent dealers and consignment agents;
GPM Petroleum, which sells and supplies fuel to its retail and wholesale sites and charges a fixed fee, primarily to its fleet fueling sites; and fleet fueling, which includes the operation of proprietary and third-party cardlock locations, and issuance of proprietary fuel cards that provide customers access to a nationwide network of fueling sites.
The company is working with investment bankers at Citigroup to sell its portfolio of 1,500-plus stores, people familiar with the matter told Reuters. Such a move would reverse course on multiple years of expansion, which included a 2023 attempt to beat out bp to acquire TravelCenters of America, following a slowdown in c-store sales.
Full article ARKO Reportedly Exploring Sale of C-store Assets | Convenience Store News (csnews.com)
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