Mergers & Acquisitions

GPM Begins Operating Apple Market Convenience Stores

Closes on Fuel USA sites in Southeast

RICHMOND, Va. --GPM Investments LLC has taken ownership of 42 Apple Market convenience stores with gasoline sales and supply to 20 dealer-operated stores in Virginia and Kentucky from Fuel USA LLC. This acquisition will further develop GPM’s existing portfolio of stores in the Southeast region.

Apple Markets GPM

Fuel USA acquired the sites from Forest, Va.-based Workman Oil in mid-2015.

Initially, GPM will continue to operate these stores under the Apple Market name.

GPM has hired the Fuel USA store employees.

“These stores have served customers with dedication and enthusiasm. We are eager to continue on the same path of service with passion and commitment,” said Don Muscatell, senior vice president of operations. “Bringing these employees into the GPM family was very important to our leadership team, and we look forward to growing with these new stores.”

The company recently took ownership of 15 convenience stores with gasoline sales in southern Illinois, Iowa and Nebraska from Gas-Mart USA Inc. It will also initially operate these stores under their existing brand names.

GPM Investments, one of the largest privately owned companies in the convenience-store channel of business, has now widened its reach to more than 800 locations in 17 states, under the brands Fas Mart, Shore Stop, Scotchman Stores, Young's, Li'l Cricket, BreadBox, One Stop and Road Ranger.

The company, based in Richmond, Va., operates or supplies c-stores in Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Maryland, Michigan, Nebraska, New Jersey, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee and Virginia.

Its 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 and personal care products.

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