RICHMOND, Va. -- GPM Southeast LLC, a wholly owned subsidiary of GPM Investments LLC, has taken ownership of eight One Stop Food Store convenience stores with gasoline from Arey Oil Co. GPM will convert these stores, located in North Carolina and South Carolina, to its Scotchman brand, which is present in markets serving both states.
Also, GPM is initiating updates to align these stores to the Scotchman brand.
"We will continue to steer these eight stores on a successful course, while leaving our own unique imprint to make these new locations part of the GPM family," said GPM president and CEO Arie Kotler.
"After 34 successful years in the convenience store business, we are excited that GPM has committed to carry on our success by making these eight One Stop Food Stores an important part of their growth plan," Robert Arey, CEO of Shelby, N.C.-based Arey Cos., parent company of One Stop Food Stores, said in December when the deal was announced. "GPM is a good company with the capital and the desire to successfully grow throughout the southeast. We are very comfortable in the opportunities and future success GPM can offer our employees."
GPM Investments, Richmond, Va., is one of the largest privately owned companies in the convenience store channel of business, operating 463 c-stores as well as 115 dealer locations. Upon completion of the purchase of these eight stores, as well as the previously announced Road Ranger acquisition, GPM will widen its reach to 629 c-stores in a total of 11 states.
The company operates under brand names including Fas Mart, Shore Stop, Scotchman Stores, Young's, Li'l Cricket and BreadBox. These convenience stores have a wide array of food offerings, a house blend of coffee, fountain and packaged beverages, a large selection of groceries, tobacco, alcohol, personal care products and more.
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