RICHMOND, Va., and WESTLAKE, Texas — GPM Investments, a wholly owned subsidiary of ARKO Corp. has signed an extended 32-month master supply agreement with Core-Mark International Inc. as part of a consolidation of the retailer’s wholesalers and its ongoing growth strategy. The agreement will increase the number of GPM convenience stores for which Core-Mark provides service from 865 to 1,055.
“We’re excited to continue working with Core-Mark to bring a strong assortment of products and value to even more customers through efficient supply chain operations,” said Mike Bloom, GPM’s executive vice president of marketing and merchandising. “As a strong partner of ours, Core-Mark shares our vision for profitable and aggressive growth. This agreement allows us to create new synergies through the consolidation of our wholesalers and allows Core-Mark to leverage our size and scale as we continue to build out our family of community brands.”
Under the supply agreement, Core-Mark has agreed to provide transition services to facilitate the transfer of services from certain of GPM’s previous wholesalers. Core-Mark will also continue offering support services for GPM’s imports and specialty products program.
Core-Mark distributes fresh food and broad-line merchandise to convenience stores in the United States. Core-Mark will continue to be GPM’s largest single supplier, distributing products across 29 different categories to its portfolio of approximately 1,400 stores.
“Our relationship with GPM spans over a decade and continues to thrive through a mutual commitment to driving growth. GPM’s executive team has built a scalable platform from which to accelerate their store count and per store volumes and we are excited to play a part in that journey,” said Scott E. McPherson, President and Chief Executive Officer. “We place great value in this partnership and will continue to work hard to bring GPM strong service, product and technology innovation and support for their expansion efforts.”
Core-Mark is one of the largest marketers of fresh, food and broad-line supply solutions to the convenience retail industry in North America. Founded in 1888, Core-Mark offers a full range of products, marketing programs and technology solutions to approximately 40,000 customer locations in the U.S. and Canada through 32 distribution centers (excluding two distribution facilities the Company operates as a third-party logistics provider). Core-Mark services traditional convenience stores, grocers, drug stores, mass merchants, liquor and specialty stores, and other stores that carry convenience products. For more information, please visit www.core-mark.com.
In mid-May, Performance Food Group Co., Richmond, Va., entered into an agreement to acquire Core-Mark Holding for approximately $2.5 billion.
- GPM is No. 7 onCSP’s Top 40 Update to the 2020 Top 202 ranking of U.S. c-store chains by store count.
ARKO owns 100% of GPM. Based in Richmond, Va., GPM operates or supplies fuel to approximately 3,000 locations in 33 states and the District of Columbia, comprised of approximately 1,400 company-operated stores and approximately 1,625 dealer sites. It operates in three reportable segments: retail, which consists of fuel and merchandise sales to retail consumers; wholesale, which supplies fuel to third-party dealers and consignment agents; and GPM Petroleum, which supplies fuel to its own sites both in the retail and wholesale segments. The stores offer the fas Rewards loyalty program, a large selection of beverages, coffee, fountain drinks, candy, salty snacks and many other products.