ARKO Corp. is a major U.S. convenience store operator and fuel wholesale distributor, operating primarily through its subsidiary GPM Investments, LLC. The company's business model is highly diversified across four main segments: Retail, Wholesale, Fleet Fueling, and GPMP. The Retail segment operates over 1,300 convenience stores under more than 25 regional community brands, offering branded and unbranded fuel alongside merchandise, hot and cold foodservice, and beverages. The Wholesale segment supplies fuel to nearly 2,000 independent dealer locations on a cost-plus or consignment basis. The Fleet Fueling segment manages proprietary and third-party cardlock locations and issues proprietary fuel cards for commercial customers. Finally, the GPMP segment handles the wholesale distribution of motor fuel to both the retail and wholesale segments.
Geographically, ARKO's footprint spans more than 30 states, primarily concentrated in the Mid-Atlantic, Midwestern, Northeastern, Southeastern, and Southwestern United States. The company has grown aggressively through a roll-up acquisition strategy, acquiring numerous regional convenience store chains and fuel distribution assets to build scale. Fuel sales account for the vast majority of ARKO's total revenue—generating over $6.8 billion annually compared to approximately $1.7 billion from merchandise—though merchandise and foodservice provide higher profit margins. In recent years, ARKO has implemented a transformation plan that includes converting select retail stores to dealer-operated locations to optimize its portfolio and reduce operating costs.
