Haymaker Acquisition completed the merger with ARKO and GPM Investments in a $1.5bn deal.

Haymaker Acquisition, a publicly traded special purpose acquisition company, completed the merger with ARKO, an Israel-based holding company, and GPM Investments, a convenience store owner and operator, in a $1.5bn deal. Currently Arko owns 68% of GPM and the remaining 32% is held by Davidson Kempner Capital Management, funds managed by Ares Management and Harvest Partners. MSD Partners invested $100m to fund the business combination. “Today marks an important milestone as we drive the next chapter of our growth as a U.S.-listed public company. We operate in an attractive and highly fragmented industry and have built a proven platform for acquisitions, as demonstrated by our successful track record of closing transactions. In combination with our attractive remodel program, and the compelling organic growth opportunities we are executing against, we look forward to building on the success we have driven to date, and delivering value for all of our stakeholders,” Arie Kotler, ARKO Chief Executive Officer.