From staff reports –
Arko Corporation, one of the largest convenience store operators and fuel wholesalers in the United States, announced last week that GPM Investments LLC, (“GPM”) a wholly owned subsidiary of Richmond-based Arko, acquired from Fredericksburg-based Quarles Petroleum Incorporated certain assets (the “Quarles acquisition”). According to an Arko news release, the July 25 acquisition includes 121 proprietary Quarles-branded cardlock sites, management of 63 third party cardlock sites for fleet fueling operations, 46 independent dealer locations, including certain lessee-dealer sites, and a small transportation fleet. Reportedly included in the acquisition is the Quarles location in Hartfield.
“We plan to continue to pursue acquisitions like the Quarles acquisition as we focus on strategic growth that generates long-term shareholder value,” said Arie Kotler, president and CEO of Arko.
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