Item 7.01. Regulation FD Disclosure
On March 8, 2021, ARKO Corp., a Delaware corporation (the "Company"), issued a
press release announcing that the Company's wholly owned subsidiary, GPM
Investments, LLC, entered into an agreement to acquire 61 convenience stores
with gas stations in Michigan and Ohio, operating under the ExpressStop banner.
The aggregate purchase price to be paid to the seller is approximately
$102.0 million plus the value of inventory and cash at the acquired locations.
Of the aggregate purchase price, approximately $92.0 million will be paid to the
seller by two unrelated real estate funds that have agreed with the Company to
acquire directly from the seller the real estate related to most of the acquired
convenience store locations. These real estate funds have agreed to lease such
locations to the Company under customary leases, including the grant of an
option to the Company to purchase the real estate with respect to 26 locations
following an initial four-year period. Consummation of the foregoing
transactions is subject to customary closing conditions. A copy of such release
is furnished as Exhibit 99.1 to this Current Report on Form 8-K and incorporated
by reference in this Item 7.01.
The information contained in this Item 7.01, including Exhibit 99.1 furnished
herewith, is "furnished" and not "filed" for purposes of Section 18 of the
Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise
subject to the liabilities of that section. Such information shall not be
incorporated by reference in another filing by the Company under the Exchange
Act or the Securities Act of 1933, as amended, except to the extent such other
filing specifically incorporates such information by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Description
99.1 Press Release issued by Arko Corp. on March 8, 2021.
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