Mergers & Acquisitions

GPM Continues to Grow in the Midwest

Jiffi Stop will join retailer's collection of former Road Ranger and Gas-Mart sites

PITTSFIELD, Ill. -- Adding to its Midwest network, GPM Investments LLC has acquired 20 Jiffi Stop convenience stores in central Illinois, and the Jiffi Stop name, from Smith Oil Co., Pittsfield, Ill.,  as reported by a McLane/CSP Daily News Flash.

Illinois Department of Employment Security spokesperson Bob Gough told The State Journal-Register that Jiffi Stop representatives said 17 employees of the corporate office would be laid off in early October, but for remaining workers, “the potential for employment with the new company is a very high possibility.”

In response to a CSP Daily News inquiry, a GPM spokesperson said, “GPM does not comment on acquisition rumors.”

GPM has been growing in the region. In March 2015, GPM took ownership of 42 Road Ranger convenience stores in Illinois, Iowa and Kentucky and has converted them to its Fas Mart brand. In February 2016, it took ownership of 15 Gas-Mart USA Inc. convenience stores in Illinois, Iowa and Nebraska.

Richmond, Va.-based GPM, a subsidiary of Israeli convenience store operator Petro Group Ltd., operates or supplies fuel to approximately 800 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.

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