RICHMOND, Va. — GPM Investments LLC signed an extended 32-month master supply agreement with Core-Mark Holding Co. Inc. as part of a consolidation of its wholesalers and continued growth strategy.
The agreement increases the number of GPM store locations serviced by Core-Mark 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 GPM's Mike Bloom, executive vice president, 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 terms of the supply agreement, Core-Mark will provide transition services to facilitate the transfer of services from certain of GPM's previous wholesalers. The company will also continue offering support services for GPM's imports and specialty products program.
"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 Core-Mark President and CEO Scott E. McPherson. "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 distributes fresh food and broadline merchandise to convenience stores in the United States. It will continue to be GPM's largest single supplier, distributing products across 29 different categories to its portfolio of approximately 1,400 c-stores.
Based in Richmond, GPM Investments is a wholly-owned subsidiary of ARKO Corp. It operates and supplies stores in 33 states and Washington, D.C., and is the sixth largest convenience store chain in the United States. GPM has 3,000 locations comprised of approximately 1,400 company-operated stores and 1,625 dealer sites to which it supplies fuel.