GPM Investments (ARKO) Acquires Quarles Petroleum Cardlock and Fuel Distribution Assets

GPM Investments LLC, a subsidiary of ARKO Corp., has closed the acquisition of Quarles Petroleum's cardlock and fuel distribution business, acquiring 121 proprietary cardlock sites, management of 63 third-party cardlock sites, 46 dealer locations and a small transportation fleet. The deal retains nearly 100 Quarles employees, is expected to add about 160 million gallons (primarily diesel) to ARKO's annual volumes, and is projected to contribute roughly $17.5 million of adjusted EBITDA on an annualized basis (net of incremental rent).