RICHMOND, Va. — GPM Investments LLC has signed an agreement with Riiser Fuels LLC to acquire 63 convenience stores with gasoline in Wisconsin. This acquisition will further develop GPM’s existing portfolio of stores in the Midwest, and the companies expect the deal to close in the fourth quarter of this year.
“Riiser prides itself in providing the ultimate buying experience to customers by providing quality products and services. The transition to GPM will only enhance those offerings,” said Don Draughon, president of Riiser Fuels, Wausau, Wis.
“We enjoy serving all of our current customers and are thrilled to begin serving new customers in the great state of Wisconsin,” said GPM President and CEO Arie Kotler. “We look forward to our expansion as we make these stores, sales associates and customers a new part of the GPM family.”
Investors Draughon and J.D. Dykstra formed Riiser Fuels in June 2018 to acquire the 34-unit R-Store convenience-store chain of Riiser Energy in Wisconsin from owners Dudley Investments LLC, Wildcatters LLC and Kemerling Investments LLC.
Riiser Fuels grew rapidly through a series of acquisitions. In July 2018, it acquired Mad Max in southeast Wisconsin, adding 10 new locations in Sheboygan, West Bend, Port Washington and Fond du Lac. In August 2018, it purchased six sites from Marshall’s Convenience Stores Inc. in Elkhart Lake, Cascade, Glenbeulah, Kewaskum and Plymouth in southeast Wisconsin. In May 2019, Riiser Fuels purchased four locations in the Oshkosh, Wis., area from Blue Moose Convenience Stores. And in August 2019, it acquired Jetz Convenience Centers' four c-stores. Two are in Milwaukee, with the others are in Hales Corners and Muskego, Wis.
Riiser Fuels' R-Store locations are branded BP, Amoco, Mobil, Cenex, CITGO or Clark. The merchandise offerings include tobacco products, alcohol beverages, soda, dairy products, candy and snacks, as well as general merchandise and lottery sales. All locations have a hot beverage service that includes coffee, hot chocolate and cappuccino.
In April 2019, Riiser Fuels sold its retail dealer, tank wagon and transport divisions to Condon Cos., Ripon, Wis.
- GPM is No. 6 in CSP's 2019 Top 202 ranking of c-store chains by number of retail outlets. Riiser Fuels is No. 128.
GPM is the largest privately owned company in the convenience-store channel of business. Based in Richmond, Va., it operates or supplies fuel to more than 1,400 stores in Arkansas, Connecticut, Delaware, Florida, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maryland, Michigan, Missouri, Nebraska, New Jersey, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas and Virginia. Brands include Fas Mart, Shore Stop, Scotchman, BreadBox, Young's, Li'l Cricket, Next Door Store, Village Pantry, Apple Market, Jiffi Stop, Admiral, Roadrunner Markets, Jiffy Food Marts, E-Z Mart, 1 Stop and TownStar.
GPM’s stores offer a large selection of beverages, coffee, fountain drinks, candy, salty snacks and many other products to meet the needs of the everyday customer. It also features a variety of proprietary food offerings ranging from fresh chicken, fresh-made salads and sandwiches to healthy, grab-and-go meals.