GPM Investments acquires Pride Convenience Holdings
The ARKO subsidiary will take over the retail network of the company consisting of 31 convenience stores and expand its footprint into Massachusetts.
ARKO Corp. announced that its subsidiary, GPM Investments, has agreed to acquire Pride Convenience Holdings, a retailer that operates 31 convenience stores. This transaction would expand ARKO’s footprint into Massachusetts, making it the 34th state in which the Company will operate.
Pride is a convenience store operator in the Northeast with many large format stores, including two high-volume Travel Centres for long-haul truckers and two modern City Stop locations that cater to short-haul truckers. Additionally, the company owns a centralised kitchen that provides fresh baked goods and food daily to all of its stores.
“We believe Pride stores are top-tier assets, with a focus on excellent customer service and a quality loyalty program, and we further believe that we can add value to these assets through our operational and merchandising abilities and scale. We look forward to welcoming Pride’s employees to our Family of Community Brands and working together to enhance the business,” said Arie Kotler, Chairman, President and CEO at ARKO.
Pride stores are differentiated by their fresh food selection supported by its corporate kitchen and bakery, which provides bakery items, sandwiches, and other items to in-store Pride Kitchens and as grab-and-go options made fresh daily.
Additionally, they include other well-known offerings, including Subway and Chester’s Chicken franchises, along with seven high volume beer and wine operations. Drive-through service at some stores and utilisation of delivery options such as Door Dash, Uber and Grub Hub underscore the quality and appeal of these foodservice options in the region.
