Arko Corp., which operates convenience stores under its subsidiary GPM Investments LLC, has plans to make its wholesale fuel arm public.
Arko Corp. announced on Friday that it has filed a registration statement for the proposed initial public offering (IPO) of its subsidiary, Arko Petroleum Corp., with the Securities and Exchange Commission (SEC).
Arko Petroleum Corp.’s business will include the operations of Arko’s wholesale, fleet fueling and GPM Petroleum segments, including fuel distribution to Arko’s convenience stores, the Richmond, Virginia-based company said.
The move is part of Arko’s strategic plan, it said in Friday’s release. Arko is a Fortune 500 company and one of the largest c-store operators, fuel wholesalers and cardlock operators in the United States. GPM Investments ranks No. 7 on CSP’s 2025 Top 202 list of largest c-store chains by store count in the United States. It had 1,389 stores as of Jan. 1, 2025.
Arko has been in the process of converting some of its convenience stores to dealer sites. In its latest earnings call for third-quarter 2025, it said it had converted 65 retail stores to dealer sites during the three months ending Sept. 30, for a total of 194 stores converted in the nine months ending Sept. 30. The company said it will continue to execute its dealerization program in 2026.
In addition to its convenience-store arm, Arko operates in three other segments: wholesale, which supplies fuel to independent dealers and consignment agents; fleet fueling, which includes the operation of proprietary and third-party cardlock locations and issuance of proprietary fuel cards; and GPM Petroleum, which sells and supplies fuel to its retail and wholesale sites.
The IPO is not yet effective, so the securities cannot be sold or offered until approval. UBS Investment Bank, Raymond James and Stifel are leading the offering, along with Mizuho and Capital One Securities. Further details will be available once the registration is effective, the company said.
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