ARKO Corp., the 6th Largest Convenience Store Operator, Announces Extended Wholesale Agreement with Core-Mark
26 Mai 2021 - 1:05PM
GPM Investments, LLC, a wholly owned subsidiary of ARKO
Corp. (Nasdaq: ARKO) and Core-Mark Holding Company, Inc.
(NASDAQ: CORE), today announced the signing of an extended 32-month
master supply agreement with Core-Mark International, Inc. as part
of a consolidation of the company’s wholesalers and continued
growth strategy. The agreement will increase the number of GPM
store locations for which Core-Mark provides service from 865 to
1,055.
“We’re excited to continue working with Core-Mark to bring a
strong assortment of products and value to even more customers
through efficient supply chain operations,” said Mike Bloom, GPM’s
Executive Vice President, Marketing and Merchandising. “As a strong
partner of ours, Core-Mark shares our vision for profitable and
aggressive growth. This agreement allows us to create new synergies
through the consolidation of our wholesalers and allows Core-Mark
to leverage our size and scale as we continue to build out our
family of community brands.”
Under the supply agreement, Core-Mark agreed to provide
transition services to facilitate the transfer of services from
certain of GPM’s previous wholesalers. Core-Mark will also continue
offering support services for GPM’s imports and specialty products
program.
Core-Mark distributes fresh food and broad-line merchandise to
convenience stores in the United States. Core-Mark will continue to
be GPM’s largest single supplier, distributing products across 29
different categories to its portfolio of approximately 1,400
stores.
“Our relationship with GPM spans over a decade and continues to
thrive through a mutual commitment to driving growth. GPM’s
executive team has built a scalable platform from which to
accelerate their store count and per store volumes and we are
excited to play a part in that journey,” said Scott E. McPherson,
President and Chief Executive Officer. “We place great value in
this partnership and will continue to work hard to bring GPM strong
service, product and technology innovation and support for their
expansion efforts.”
To learn more about GPM stores,
visit: www.gpminvestments.com. To learn more about ARKO,
visit: www.arkocorp.com.
About ARKO Corp.
ARKO Corp. (“ARKO”) (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.
About Core-MarkCore-Mark is one of the largest
marketers of fresh, food and broad-line supply solutions to the
convenience retail industry in North America. Founded in 1888,
Core-Mark offers a full range of products, marketing programs and
technology solutions to approximately 40,000 customer locations in
the U.S. and Canada through 32 distribution centers (excluding two
distribution facilities the Company operates as a third-party
logistics provider). Core-Mark services traditional convenience
stores, grocers, drug stores, mass merchants, liquor and specialty
stores, and other stores that carry convenience products. For more
information, please visit www.core-mark.com.
Forward-Looking StatementsThis
communication 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, ARKO and Core-Mark’s respective expected financial and
operational results and the related assumptions underlying such
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; ARKO’s ability to
maintain the listing of our common stock and warrants on the Nasdaq
Stock Market; changes in ARKO or Core-Mark’s strategy, future
operations, financial position, estimated revenues and losses,
projected costs, prospects and plans; expansion plans and
opportunities; risks related to the proposed acquisition of
Core-Mark by Performance Food Company (the “PFG Transaction”),
including the risk that the PFG Transaction is not consummated on a
timely basis or at all; changes in the markets in which ARKO or
Core-Mark competes; changes in applicable laws or regulations,
including those relating to environmental matters; market
conditions and global and economic factors beyond ARKO or
Core-Mark’s control, including the potential adverse effects of the
ongoing global coronavirus (COVID-19) pandemic on capital markets,
general economic conditions, unemployment and ARKO or Core-Mark’s
liquidity, operations and personnel; and the outcome of any known
or unknown litigation and regulatory proceedings. Accordingly,
there are or will be important factors that could cause actual
outcomes or results to differ materially from those indicated in
these statements. These factors should not be construed as
exhaustive. Detailed information about these factors and additional
important factors can be found in the documents that ARKO and
Core-Mark 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. Neither ARKO
nor Core-Mark assumes any obligation to update forward-looking
information, except as required by applicable law.
Media Contact
For ARKO: Andrew PetroMatter on behalf of
ARKO(978) 518-4531apetro@matternow.com
For Core-Mark: David Lawrence, Vice President of
Treasury and Investor Relations1-800-622-1713 x 7923
david.lawrence@core-mark.com
Investor Contact
For ARKO:Chris MandevilleICR on behalf of
ARKOARKO@icrinc.com
For Core-Mark:David Lawrence, Vice President of Treasury and
Investor Relations1-800-622-1713 x
7923david.lawrence@core-mark.com
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