TEL AVIV, Israel -- The parent company of the Fas Mart/Shore Stop convenience-store chain has signed a letter of intent to purchase 60 c-store sites in the United States for $46 million.
GPM Investments LLC, a subsidiary of Israel-based Petro Group Ltd. and parent company of Fas Mart/Shore Stop, Mechanicsville, Va., said in a statement that the properties posted $130 million in sales in 2006.
No further information was provided, and Don Bassell, CFO of GPM Investments LLC, could not offer further comment when contacted [image-nocss] by CSP Daily News.
GPM Investments LLC is a convenience-store chain that operates more than 153 convenience stores in Virginia, Maryland, Delaware, Connecticut, Rhode Island and North Carolina. The company operates under the Fas Mart brand in Virginia and New England and the Shore Stop brand in the Eastern Shore of Maryland and Virginia, and the state of Delaware.
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