M&A
confidence high
sentiment positive
materiality 0.75
ARKO Corp. agrees to acquire WTG Fuels assets for ~$140.4M, expanding in Texas/New Mexico
ARKO Corp.
- Total consideration ~$140.4M plus inventory; ARKO funds ~$25.4M, Oak Street funds ~$115M via sale-leaseback.
- Acquisition includes 24 Uncle's stores, 57 GASCARD cardlock sites, 52 private cardlock sites, and other assets.
- Expected to add ~$10.6M Adjusted EBITDA annually, after ~$6.9M annual rent to Oak Street.
- Fourth acquisition of 2022; combined with Pride and TEG, adds ~15% to store count (over 200 stores).
- WTG sold ~85M gallons in FY2021; ARKO's fleet fueling sites to grow from 183 to >290.