ARKO Petroleum Corp., a majority owned subsidiary of ARKO Corp., has completed its previously reported acquisition of the business of US Petroleum Partners, a vertically integrated fuel supply and distribution platform serving customers across the Great Lakes region. The closing took place on November 10, 2026 under an asset purchase agreement dated August 4, 2026, and was reported on Form 8-K by both ARKO Corp. and ARKO Petroleum on November 12.
The acquired business includes two fuel terminals, in Novi, Michigan and Toledo, Ohio, connected to the Buckeye Pipeline system, the right to supply fuel to approximately 400 dealer locations, and a vehicle fleet that currently transports more than 80 percent of the business’s distributed fuel volumes. ARKO Petroleum assumed certain liabilities as part of the asset purchase.
On closing, the buyer paid aggregate cash consideration of approximately $200 million plus the value of inventory on the closing date. ARKO Petroleum also issued 2,018,245 shares of its Class A common stock, valued at $30 million under the purchase agreement’s pricing terms. The shares, together with any dividends on them, will be held in escrow and delivered to the seller only subject to the acquired business achieving certain EBITDA based financial targets for the twelve months ending December 31, 2027, so the stock portion of the price is contingent, not paid.
ARKO Petroleum funded the cash consideration through borrowings under its existing lines of credit. The filings state that the acquired business’s financial statements and pro forma financial information will be filed by amendment within 71 days, so the earnings contribution of the platform is not yet disclosed.