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ARKO Holdings, Ltd. has completed its acquisition of Empire Petroleum Partners, enhancing scale and diversifying its operations, which now encompass about 3,000 locations across 33 states. This acquisition is projected to double their annual fuel distribution to over 2 billion gallons. CEO Arie Kotler emphasizes the strategic importance of this deal for growth and competitiveness. The move coincides with ARKO's impending merger with Haymaker Acquisition Corp. II, expected to finalize in Q4 2020, leading to a public listing on NASDAQ under the ticker ARKO.
ARKO Corp. is set for strong growth post-merger with Haymaker Acquisition Corp.. Projected 2021 Pro-forma Adjusted EBITDA is expected to range from $210 to $215 million. GPM Investments, a leading convenience store chain in the U.S., will enhance its growth trajectory with a store count rising to 1,393 locations. The deal, pending shareholder approval, anticipates a $1.4 billion market cap at closing, with an estimated total enterprise value of $2 billion. A joint investor call is scheduled for September 9, 2020.