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GPM Investments Acquires Certain Assets of Quarles Petroleum.

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Vincent

MANews-(C)2009-2022

Virginia, US-based convenience store owner/operator GPM Investments, LLC has acquired certain assets from Virginia-based Quarles Petroleum, Inc, including 121 proprietary Quarles-branded cardlock sites, management of 63 third party cardlock sites for fleet fueling operations, 46 independent dealer locations, including certain lessee-dealer sites, and a small transportation fleet, the company said.

Terms of the transaction were not disclosed.

GPM Investments, LLC is a wholly owned subsidiary of fleet fueling cardlock operators ARKO Corp. (NASDAQ: ARKO).

The Quarles acquisition is ARKO's 21st acquisition since 2013.

The Quarles acquisition includes proprietary cardlock locations that fulfill the fuel needs of multiple industries at easily accessible, unmanned fuel sites in prime locations in Virginia, North Carolina, Maryland, Pennsylvania, and the District of Columbia, management of third-party fueling sites, and the marketing of fuel cards that give customers access to a nationwide network of fueling sites.

The company expects that the Quarles...

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