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Arko buys chain of 135 convenience stores
Arko Corp., a Fortune 500 holding company for Henrico County-based convenience store chain GPM Investments LLC, has closed the acquisition of South Carolina-based Transit Energy Group, which is valued at $370 million plus the value of inventory. The transaction, announced Thursday. includes 135 convenience stores, supply fuel to approximately 190 dealers and a transportation business […]
Building blocks
If you ask economic development officials in Central Virginia about 2022, they might respond with a familiar slogan: “Everything is awesome.” With almost 5,000 announced jobs and $1.6 billion in capital investment, the Richmond region had one of its best years in the last two decades. By October 2022, the region recovered 100% of jobs […]
ASM Global to develop, run GreenCity arena in Henrico
ASM Global will develop and operate the 17,000-seat arena at Henrico County’s $2.3 billion GreenCity development, county officials announced Monday. Billed as what will be the nation’s greenest arena with net-zero energy impact, the venue is set to be part of a multiuse community with a focus on environmental sustainability at the intersection of Interstates […]
Markel announces next CFO
Teri Gendron will succeed Jeremy Noble as Markel Corp.’s chief financial officer on March 20, the Glen Allen-based Fortune 500 insurance and investment firm announced Tuesday. Noble became president of Markel’s insurance operations earlier this year. Gendron will oversee and manage the holding company’s financial operations across its three divisions: insurance, investments and M[...]
Former EAB buildings in Henrico sell for $5.35M
A Richmond-based real estate company has purchased three office buildings in western Henrico County for $5.35 million, Commonwealth Commercial Partners LLC announced Monday. Formerly the headquarters of education research company EAB, the buildings are located at 1910, 1920 and 1950 E. Parham Drive. Marwaha Property Management, doing business as Marwaha Business Park LLC, purchased the […]
Hilb Group acquires Ga. insurance agency
Henrico County-based insurance company The Hilb Group LLC announced Tuesday it had acquired Georgia-based Gillman Insurance Problem Solvers. Financial terms of the acquisition, which became effective Dec. 1, were not disclosed. “Joining The Hilb Group allows us to build further upon our long-standing, dedicated focus on our customers,” Ed Gillman, Gillman Insurance’s founder and [...]
Arko closes Pride convenience stores deal
Arko Corp., a Fortune 500 holding company for Henrico County-based convenience store chain GPM Investments LLC, has closed on its acquisition of Pride Convenience Holdings LLC, which operates 30 Pride convenience stores in Massachusetts and one in Connecticut. The deal was first announced in October. The $230 million acquisition, plus the value of inventory, brings […]
Arko to buy Uncle’s convenience stores for $140M
Arko Corp., a Fortune 500 holding company for Henrico County-based convenience store chain GPM Investments LLC, announced Wednesday it has agreed to acquire the retail, wholesale and fleet fueling assets of Texas-based WTG Fuels Holdings LLC, the owner of Uncle’s convenience stores and Gascard fleet fueling operations. The $140.4 million acquisition, plus the value of […]
Henrico aims to become coastal internet hub
Henrico isn’t the new Ashburn, but the county does have 18% of the East Coast’s internet traffic coursing through it. That’s a product of QTS Data Centers’ network access point (NAP) at Henrico’s White Oak Technology Park, which connects to three subsea internet cables from Europe and South America that converge in Virginia Beach. In […]
Allianz Partners USA names new COO
Henrico County-based Allianz Partners USA has named Heather McIntyre as chief operations officer USA, the company announced Monday. McIntyre joins Allianz after 20 years with Geico, where she served in multiple management roles, most recently as vice president of customer experience and customer relationship management. She also has experience in digital transformation, product management and [&he[...]
Exceeding expectations
In the greater Richmond region, local economic development authorities have been hard at work landing new business and securing expansions, and this year those efforts bore fruit, they say. In fact, 2022 has outpaced the past two decades, declares Jennifer Wakefield, the Greater Richmond Partnership’s president and CEO, as the region landed two “megaprojects” — […]
Altria strikes $150M deal with Japan Tobacco
Altria Group Inc., the Henrico County-based tobacco giant, announced Thursday it is partnering with Japan Tobacco Group to sell heated tobacco products in the U.S. and worldwide, placing Altria in direct competition with Juul Labs Inc. and Philip Morris International Inc. The $150 million deal, in which Altria subsidiary Philip Morris USA has a 75% […]
