RICHMOND, Va. -- GPM Southeast LLC, a wholly owned subsidiary of GPM Investments LLC, signed an agreement with Arey Oil Co. Inc., to acquire eight One Stop Food Store convenience stores with gasoline sales. The acquisition is expected to close in the first quarter of 2015.
This retail brand acquisition will add to GPM’s existing portfolio of convenience stores in the Southeast. GPM plans to operate these acquired stores, which are located in North Carolina and South Carolina, under their Scotchman retail brand, which is currently present in markets serving both of those states.
GPM anticipates extending an offer to the existing operations employees of the acquired stores to join the GPM family.
GPM Investments LLC is one of the largest privately owned companies in the convenience-store channel of business, currently operating 463 retail stores as well as 115 dealer locations. Upon completion of the One Stop Food Stores purchase, as well as the previously announced Road Ranger acquisition which is currently in progress, GPM will widen its reach to 629 stores in 11 states.