ARKO Corp. to Acquire TA Subsidiaries for $100M

TL;DR

ARKO buying TA subs for $100M, closing Q3.

AI Summary

ARKO Corp. announced on June 6, 2024, that it has entered into a definitive agreement to acquire 100% of the outstanding equity interests of certain subsidiaries of TravelCenters of America Inc. for approximately $100 million. This acquisition is expected to close in the third quarter of 2024 and will be financed through a combination of cash on hand and a new revolving credit facility.

Why It Matters

This acquisition significantly expands ARKO Corp.'s footprint in the travel center industry, potentially leading to increased revenue and market share.

Risk Assessment

Risk Level: medium — The acquisition involves significant financial commitment and integration risks, and its success depends on achieving projected synergies.

Key Numbers

• $100 million — Acquisition Price (Total cost for the subsidiaries of TravelCenters of America Inc.)

Key Players & Entities

• ARKO Corp. (company) — Acquiring company
• TravelCenters of America Inc. (company) — Target company's parent
• 100 million (dollar_amount) — Acquisition price
• third quarter of 2024 (date) — Expected closing period

FAQ

From the Filing

0000950170-24-069861.txt : 20240606 0000950170-24-069861.hdr.sgml : 20240606 20240606160423 ACCESSION NUMBER: 0000950170-24-069861 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 12 CONFORMED PERIOD OF REPORT: 20240606 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Submission of Matters to a Vote of Security Holders FILED AS OF DATE: 20240606 DATE AS OF CHANGE: 20240606 FILER: COMPANY DATA: COMPANY CONFORMED NAME: ARKO Corp. CENTRAL INDEX KEY: 0001823794 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-CONVENIENCE STORES [5412] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 852784337 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39828 FILM NUMBER: 241024986 BUSINESS ADDRESS: STREET 1: 8565 MAGELLAN PKWY STREET 2: SUITE 400 CITY: RICHMOND STATE: VA ZIP: 23227 BUSINESS PHONE: 804-730-1568 MAIL ADDRESS: STREET 1: 8565 MAGELLAN PKWY STREET 2: SUITE 400 CITY: RICHMOND STATE: VA ZIP: 23227 8-K 1 arko-20240606.htm 8-K 8-K false 0001823794 0001823794 2024-06-06 2024-06-06 0001823794 us-gaap:CommonStockMember 2024-06-06 2024-06-06 0001823794 arko:WarrantsEachWarrantExercisableForOneShareOfCommonStockAtAnExercisePriceOf1150Member 2024-06-06 2024-06-06   UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549   FORM 8-K   CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): June 06, 2024             ARKO Corp. (Exact name of Registrant as Specified in Its Charter)     Delaware 001-39828 85-2784337 (State or Other Jurisdiction of Incorporation) (Commission File Number) (IRS Employer Identification No.)           8565 Magellan Parkway Suite 400   Richmond , Virginia   23227-1150 (Address of Principal Executive Offices)   (Zip Code)   Registrant’s Telephone Number, Including Area Code: (804) 730-1568     (Former Name or Former Address, if Changed Since Last Report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class   Trading Symbol(s)   Name of each exchange on which registered Common Stock, $0.0001 par value per share   ARKO   The Nasdaq Stock Market LLC Warrants, each warrant exercisable for one share of Common Stock at an exercise price of $11.50   ARKOW   The Nasdaq Stock Market LLC Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐   Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. At the Annual Meeting (as defined in Item 5.07 to this Current Report on Form 8-K) of ARKO Corp.,