DLA Piper advises Haymaker Acquisition Corp. II in business combination with ARKO Holdings and GPM Investments

NEW YORK,Sept. 9, 2020/PRNewswire/ -- DLA Piper represented Haymaker Acquisition Corp. II (NASDAQ: HYAC), a publicly traded special acquisition company, in a definitive agreement for a business combination with GPM, the seventh-largest convenience store chain inthe United States, and ARKO Holdings Ltd (TASE: ARKO), an Israeli public holding company whose primary asset is a controlling stake in GPM. The transaction is expected to close in the fourth quarter of 2020.

GPM has grown its store count from 320 in 2011 to 1,393 locations in 23 states comprised of 1,266 company-operated stores and an additional 127 additional sites to which it supplies fuel as ofJune 30. The company operates in three segments: retail, which consists of fuel and merchandise sales to retail consumers; wholesale, which supplies fuel to third-party dealers and consignment agents; and GPM Petroleum, which supplies fuel to company stores as well as sub-wholesalers and bulk purchasers. It is anticipated that the combined company will have an equity market capitalization of approximately$1.4 billion, and a total enterprise value of$2 billion, at closing.

"We're pleased to bring our retail sector capabilities, our knowledge of the unique role and operations of SPACs, and our experience working with investors across multiple jurisdictions to assist Haymaker, a longtime client, in this significant transaction that will position GPM for even greater success and expansion," saidSidney Burke, who led the deal for DLA Piper.

In addition to Burke, the DLA Piper team also included partnersStephen AlicantiandDrew Young, and associates Rube Uthayakumar andAndrew Wolfe(allNew York), and associateRahul Sajnani(Los Angeles).

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for ten consecutive years, according toMergermarket.

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DLA Piper is a global law firm with lawyers located in more than 40 countries throughout the Americas,Europe, theMiddle East,AfricaandAsia Pacific, positioning us to help clients with their legal needs around the world. In certain jurisdictions, this information may be considered attorney advertising. dlapiper.com

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SOURCE DLA Piper