SPRINGFIELD, Mass. (WWLP) – ARKO, a Fortune 500 company and one of the largest U.S. convenience store operators in the United States is set to purchase the Springfield-based Pride convenience store chain. This in an effort to continue to grow its footprint in Massachusetts.
Arko entered an agreement for the acquisition of 31 convenience stores. They said that they are looking forward to welcoming Pride’s employees to the family as well as continuing to keep a high brand equity in the region for the stores.
“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,” said ARKO Chairman, President and CEO Arie Kotler.
The total price for Pride cost approximately $230 million, plus the value of inventory.