ARKO Corp. Earns Spot on Fortune 500 List
RICHMOND, Va. — ARKO Corp., parent company to GPM Investments LLC, one of the largest convenience store operators and fuel wholesalers in the United States, was named to the 2022 Fortune 500 list, which ranks the largest companies by total revenue in the U.S.
In its first year making the list, ARKO ranked at No. 498. According to Fortune, ARKO achieved $6.413 billion in revenues within the past year, an 88-percent increase in revenue year over year. Profits came in at $59.2 million, a 349-percent year-over-year improvement. ARKO's assets total $2.942 billion, and its market value was $1.134 billion as of March 31. It employs 11,236 people.
"We're incredibly proud to be named to this year's Fortune 500 list, an important confirmation that our growth strategy, disciplined investment approach, and our people continue to deliver excellent results," said Arie Kotler, chairman, president and CEO of ARKO Corp. "This is a significant achievement since joining NASDAQ less than two years ago, and a testament to our continued success. We will continue to drive growth and execute our strategy to deliver long-term value for our stakeholders."
ARKO's commitment to growth is evident in the company's merger and acquisition strategy. The company has successfully completed 20 acquisitions since 2013 and announced its 21st acquisition in early 2022. ARKO has grown from 300 setores to mor than 3,000 locations, comprising 1,396 company-operated stores and 1,625 dealer sites to which it supplies fuel.
Other c-store operators also made it to the Fortune 500 list. Ranking No. 240 on the annual list is Murphy USA Inc., which moved up 82 spots from the 2021 list. According to the news source, Murphy USA made $15.32 billion in the past year, a 61-percent increase compared to the prior year, and net profits were $397 million, a 2.8-percent year-over year increase.
Casey's General Stores Inc. placed No. 445 on the list, with revenues listed at $7.654 billion, a drop of 5.6 percent year over year. However, net profits increased by 18.6 percent to $313 million, reported Fortune.
TravelCenters of America Inc. ranked No. 461 on the list, with reported revenues of $7.37 billion, an increase of 51.4 percent year over year, and net profits totaled $58.5 million.
Ranking first and second on the list were two retailers: Walmart and Amazon, respectively. Walmart achieved $572.75 billion in revenues in the past year and net profits of $13.67 billion. Amazon had $469.82 billion in revenues and $33.36 billion in net profits.
Richmond-based ARKO Corp. owns 100 percent of GPM Investments LLC and is one of the largest operators of convenience stores in the United States. Its recognizable family of community brands offers prepared foods, beer, snacks, candy, hot and cold beverages, and multiple popular quick-service restaurant brands.
ARKO's fasREWARDS loyalty program offers exclusive savings on merchandise and gas. ARKO operates in three reportable segments: retail, which includes convenience stores selling fuel products and other merchandise to retail customers; wholesale, which supplies fuel to third-party dealers and consignment agents; and GPM Petroleum, which sells and supplies fuel to its retail and wholesale sites.