GPM’s acquisition of 263 stores from VPS Convenience Group in June 2013 made GPM one of the largest privately owned companies in the convenience channel, with outlets in 12 states.

GPM Investments LLC (parent company Petro Group Ltd.) operates as Fas Mart and Shore Stop convenience stores. With the VPS deal, the chain took on more brands: Scotchman, Young’s, Li’l Cricket, Everyday Shop, Breadbox and Cigarette City. The company’s ongoing strategy is to grow through acquisition.

Fas Mart varies its value proposition by market. In most markets, the chain is not the dominant retailer, but it works to remain competitive on key items/categories and often takes alternative strategies to differentiate itself from the dominant competitors.

Fas Mart stores are widely known for their deli program with award-winning fried chicken, dollar menu and friendly customer service. The chain also carries some unexpected products, such as hand wipes and baby wipes, and continues to seek opportunities to add unique items in the c-store environment.

Q2 2015 Update

In April, GPM Petroleum LP, which distributes motor fuel for the convenience stores of GPM Investments LLC, made an initial public offering (IPO) filing with the U.S. Securities & Exchange Commission (SEC). GPM Petroleum, an MLP spinoff from GPM Investments, is seeking an estimated $100 million from the proceeds of the IPO.

As of April 15, 2015, Richmond, Virginia-based GPM Investments controlled more than 500 convenience stores under various brand names, including Fas Mart and Shore Stop, that sell motor fuel, merchandise, food, beverages and other products and services in the Mid-Atlantic, Southeastern, Midwestern and Northeastern United States. For the year ended Dec. 31, 2014, on a pro forma basis, GPM Petroleum distributed 461.7 million gallons of motor fuel to GPM-controlled convenience stores and 68.7 million gallons of motor fuel to third-party customers.

Q1 2015 Update

GPM Investments LLC entered into an agreement with Sun Capital Partners Inc. to purchase the Midwestern division of VPS Convenience Store Group LLC, which consists of 163 company-operated stores in Indiana, Ohio, Michigan and Illinois operating under the Village Pantry and Next Door Store brands.

This transaction adds to GPM’s acquisition of the Southeast operations of VPS in August 2013, which included 263 convenience stores under a variety of names.  Those stores are now a division of the company called GPM Southeast and are located in North Carolina, South Carolina, Tennessee and Virginia.

In addition, GPM took ownership of 42 convenience stores in Illinois, Iowa and Kentucky from Road Ranger LLC.

Headquarters:Richmond, Virginia
No. of Stores:463
Average Store Size:2,500-4,000 sq. ft.
Rank Last Year:23
States of Operation: Connecticut, Delaware, Maryland, New Jersey, North Carolina, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia