GPM Investments LLC became one of the largest privately owned companies in the convenience channel when it acquired 263 stores in the Southeast from VPS Convenience Group. Since that 2013 purchase, GPM has continued to grow through acquisition and shed underperforming stores.
GPM operates under a portfolio of brands, including Fas Mart, Shore Stop, Scotchman, Admiral, Breadbox, Young’s, Li’l Cricket, Next Door Store, Village Pantry, Apple Market and Jiffi Stop.
And the acquisition activity continues: In February, GPM signed an agreement to acquire Mountain Empire Oil Co. Inc., operating as Roadrunner Markets, including all 92 convenience stores with fuel sales and seven quick-service restaurants. Once closed, this will bump its store count up to more than 1,100 c-stores. Meanwhile, in January, Harvest Partners SCF, a New York-based noncontrolling private-equity investor, acquired a $62.5 million minority ownership position in GPM, providing liquidity to the existing owners.
The Fas Mart brand features a notable foodservice offering, including fried chicken, panini sandwiches, and fresh grab-and-go items.
Source: Convenience Digital Resource Library, Technomic
|No. of Stores:||1020|
|Average Store Size:||3,200 sq. ft.|
|Rank Last Year:||11|
|States of Operation:||Connecticut, Delaware, Illinois, Indiana, Iowa, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia|