“This acquisition is our largest purchase to date and our most exciting,” says CEO of GPM Investments.
Effective Aug. 6, 2013, GPM Investments LLC, based in Richmond, Va., the operator of Fas mart and Shore Stop convenience stores, has purchased VPS Convenience Store Group LLC, Southeast division.
GPM Southeast will be based in Wilmington, N.C. The Southeast division will be composed of 263 company operated units plus 33 dealer locations. Retail brands being purchased are Scotchman, Young’s, Li’l Cricket, Everyday Shop, Breadbox and Cigarette City. GPM Southeast foodservice is made up of 26 branded QSR locations plus 46 proprietary Deli’s.
Earlier this month, GPM Investments also purchased five stores that operate as Get & Zip in the Northern Neck of Virginia. With these purchases, GPM Investments will have a total of 615 stores making GPM Investments LLC one of the largest privately owned companies in the convenience channel of business. The company will now operate stores in Virginia, Connecticut, Delaware, Maryland, Pennsylvania, North Carolina, South Carolina, Rhode Island, New Jersey and Tennessee.
“We will continue to focus on growing this company though acquisitions,” said Arie Kotler the CEO of GPM Investments LLC. “This acquisition is our largest purchase to date and our most exciting.”