M&A
confidence high
sentiment positive
materiality 0.80
ARKO Corp. to acquire Transit Energy Group for ~$375M plus inventory; adds ~350 sites
ARKO Corp.
- Purchase price of ~$325M cash at close plus inventory value; two $25M instalments payable in cash or stock.
- Expected annualized Adj. EBITDA of $18M, rising to $27M with synergies; incremental rent of ~$16M to Oak Street.
- Adds ~150 company-operated stores and ~200 dealer sites; expands retail footprint into Alabama and Mississippi.
- ARKO funds ~$60M of cash consideration; Oak Street funds ~$265M via real estate sale-leaseback.
- Pro forma store count exceeds 1,530; fuel gallons increase by ~285 million (majority branded) to ~2 billion total.