ARKO Corp. (ARKO): M&A transaction — ARKO Corp. completes $370M acquisition of Transit Energy Group, adding 135 stores

ARKO Corp.

Acquired ~135 company-operated convenience stores and fuel supply rights to ~190 independent dealer locations in the Southeast.
Total purchase price ~$370M plus inventory; $50M deferred in two $25M annual payments (cash or ARKO stock).
ARKO financed ~$90M from own sources; Oak Street funded ~$258M for real estate, which ARKO now leases.
Expands ARKO's retail footprint into Alabama and Mississippi; 23rd acquisition since 2013.
Acquisition includes transportation business with 58 trucks and 78 tanker trailers.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ARKO Corp. completed an acquisition involving Transit Energy Group, LLC for approximately $370 million (closed 2023-03-01).

Action: acquisition
Counterparty: Transit Energy Group, LLC
Consideration: approximately $370 million
Closing: 2023-03-01

Exact text from the filing

a commercial, government and industrial business, including certain bulk plants, and (iv) certain distribution and transportation assets. The purchase price was approximately $370 million, as adjusted in accordance with the terms of the Purchase Agreement, plus the value of inventory on the Closing Date (the “Purchase Price”). As previously reported, a portion of

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ARKO Corp. filing history →

Source: SEC EDGAR

accession 0000950170-23-005711

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