ARKO-backed GPM Investments completed the acquisition of Pride Convenience Holdings from ArcLight Capital for $230m.

ARKO-backed GPM Investments, an operator of convenience stores, completed the acquisition of Pride Convenience Holdings, a firm that operates 31 convenience stores in highly desirable locations, from ArcLight Capital, a private equity firm, for $230m. “Our agreement to acquire Pride highlights ARKO’s continued focus on creating long-term shareholder value by growing our core convenience store business. We believe Pride stores are top-tier assets, with a focus on excellent customer service and a quality loyalty program, and we further believe that we can add value to these assets through our operational and merchandising abilities and scale. We look forward to welcoming Pride’s employees to our Family of Community Brands and working together to enhance the business," Arie Kotler, ARKO Chairman, President and CEO.