GPM Investments, a wholly owned subsidiary of Arko Corp. signed a master supply agreement on March 21 with convenience-store distributor Core-Mark International Inc.
The new agreement replaces the convenience-store retailer’s previous agreement with Core-Mark, which expired in accordance with its terms, according to the company’s Securities and Exchange Commission (SEC) filing last week. The initial agreement increased the number of GPM store locations for which Core-Mark provides service from 865 to 1,055.
Under the supply agreement, Core-Mark has agreed to provide product supply and delivery services. The supply agreement said Core-Mark will also “transition services to facilitate the transfer of services from a previous wholesaler, which includes purchasing and transferring proprietary items from such wholesaler; software products related to store and product maintenance; store reset and retag services; dedicated account managers; and support services for the company’s shipping imports and specialty products program.”
- Arko Corp. is the parent company of GPM Investments, which is No. 6 on CSP’s 2023 Top 202 ranking of the largest c-store chains in the country.
The SEC filing said the initial term of the supply agreement is three years from the effective date, and that parties may elect to renew the supply agreement for up to two additional 12-month periods by mutual written agreement no fewer than 90 days prior to the expiration of the initial term or the then-current renewal term.
Westlake, Texas-based Core-Mark is a Performance Food Groupcompany that offers a full range of products, marketing programs and technology solutions to about 50,000 customer locations in the United States and Canada through 37 distribution centers. It services convenience stores, drug stores, grocery stores and other stores that carry convenience products. Performance Food Group is based in Richmond, Virginia.
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