ARKO Ranks Among America's Top Large Companies
RICHMOND, Va. — ARKO Corp., one of the largest convenience store operators and fuel wholesalers in the United States, was named for the second consecutive year to the 2023 Fortune 500 list, which ranks the largest U.S. companies by total revenue.
ARKO ranked at No. 460, moving up 38 places on the list from its debut in 2022 at No. 498. The recognition is a clear indicator of a successful growth strategy, the company stated.
"ARKO had an excellent year in 2022 and a strong start to 2023, so being named to the Fortune 500 for the second consecutive year once again confirms our position as a leader in the convenience store industry," said Arie Kotler, chairman, president and CEO of ARKO. "This is the result of ARKO's unwavering commitment to create value for our stockholders and underscores the success we have achieved through strategic initiatives like enhancing our loyalty program, expanding marketing and merchandising efforts, and executing our long-term growth strategy through accretive acquisitions."
The company has completed 24 acquisitions since 2013. Some of its most recent deals included the purchase of WTG Fuels Holdings, a takeover of Transit Energy Group's assets and the acquisition of the fueling cardlock and fuel distribution business of Quarles Petroleum.
ARKO has subsequently grown from 300 stores to approximately 3,700 locations, including 1,550 company-operated stores, more than 1,800 independent dealer sites to which it supplies fuel and approximately 300 unmanned fleet fueling locations.
ARKO was joined on the Fortune 500 list by fellow c-store operators Murphy USA, which rose 58 slots to sit at No. 182, Casey's General Stores, which leaped 129 slots to No. 316, and TravelCenters of America, which rose 89 slots to No. 372.
Based in Richmond, ARKO, along with its wholly owned subsidiary, GPM Investments LLC, operates numerous community brands that offer prepared foods, beer, snacks, candy, hot and cold beverages, along with multiple quick serve restaurant brands.