GPM Investments, LLC, a wholly-owned subsidiary of ARKO Corp., a family of community brands, is based in Richmond, Virginia and operates or supplies stores in 33 states and Washington D.C. As the 6th largest convenience store chain in the country, we have approximately 3,000 locations comprised of approximately 1,400 company-operated stores and approximately 1,650 dealer sites to which we supply fuel. We operate in three reportable segments: retail, which consists of fuel and merchandise sales to retail consumers; wholesale, which supplies fuel to third-party dealers and consignment agents; and GPM Petroleum, which supplies fuel to our sites (both in the retail and wholesale segments).
Many of our stores have hot, fresh food offerings and we continue to update our offerings to exceed our customers’ expectations. Our stores offer a large selection of beverages, coffee, fountain drinks, candy, salty snacks, and many other products to meet the needs of the everyday customer. Many stores also offer branded quick-service restaurant programs, such as Dairy Queen, Dunkin’, Godfather’s Pizza, Noble Roman’s Pizza, Subway and Taco Bell. When visiting many of our stores, you can also find our exclusive fas REWARDS® high value loyalty program, prepaid products, Western Union kiosks, RedBox movie rentals, thirst-quenching dispensed beverages, and other great offerings for customers to enjoy.
We commenced operations in 2003 and, as of 2013, operated over 200 fas mart® and shore stop® locations in Connecticut, Delaware, Maryland, North Carolina, Pennsylvania, Tennessee and Virginia. We started on our growth path in August 2013 with the purchase of a 263-store convenience store group located in North Carolina, South Carolina, Tennessee and Virginia, which included the brand names of Scotchman®, Young’s, Li’l Cricket, Quick & Easy Everyday Shop & Café®, BreadBox and Cigarette City®. In early 2015, we began operating eight One Stop Stores in North and South Carolina which have been re-branded as Scotchman®.
In 2015, we expanded into the Midwest after taking ownership of 42 Road Ranger convenience stores in Illinois, Iowa and Kentucky, now re-branded to fas mart®/fas fuel®, and one Subway location. Expansion into the Midwest continued when we took ownership of 161 convenience stores in Illinois, Indiana, Ohio and Michigan operating under the Village Pantry® and Next Door Store brand names.
In February 2016, we began operating 15 convenience stores in Southern Illinois, Iowa and Nebraska which we acquired from Gas-Mart USA, Inc. These stores are now rebranded to fas mart®. In March 2016, we began operating 42 Apple Market convenience stores and supplying 20 dealer-operated stores in Virginia and Kentucky which we acquired from Fuel USA. In October 2016, we began operating 17 Jiffi Stop® convenience stores and one stand-alone car wash location in Illinois and Missouri. In November 2016, we acquired Admiral Petroleum Company which operated 137 convenience stores and 33 discount tobacco shops in Michigan and Indiana.
In 2017, we acquired Mountain Empire Oil Company which operated 92 convenience stores in North Carolina, South Carolina, Tennessee and Virginia branded as Roadrunner Markets and Broyles Hospitality, LLC which is currently an independent operator of several Dunkin’ stores in Tennessee and Virginia under a franchise granted by Dunkin’ Donuts Franchising LLC. Also in 2017, we acquired seven Jiffy Stop Food Marts convenience stores in Missouri.
In 2018, we acquired 11 1-Stop stores in Michigan, 273 E-Z Mart convenience stores in Texas, Oklahoma, Louisiana and Arkansas, and five Crenco Food Stores in South Carolina which have been re-branded as Scotchman®.
In early 2019, we acquired 18 convenience stores, 10 of which have Subway® restaurants, in Florida from Town Star Holdings, LLC. This store acquisition marked our first entry into the Florida market. In October 2019, we acquired five convenience stores in Arkansas from Cash and Sons L-P Gas Company, Inc. This store acquisition marked our continued expansion in the state of Arkansas after the E-Z Mart acquisition in the prior year.
In December 2019, we closed on the acquisition of 64 Riiser, Baltus, Mad Max and Jetz stores, marking the company’s expansion into Wisconsin.
In October 2020, we closed on the acquisition of Empire Petroleum Partners’ fuel distribution business and retail locations. The Empire business, one of the largest and most diversified wholesale fuel distribution businesses in the U.S., added approximately 1,500 independently operated fueling stations to our existing fuel distribution network, as well as 85 company-operated convenience stores. Through this significant acquisition, we are expected to double our annual fuel distribution to over 2 billion gallons on an annualized basis.
In December 2020, we achieved an important milestone when our parent company entered into a merger transaction to form ARKO Corp., a publicly traded company on the Nasdaq Stock Market, trading under the ticker “ARKO.” Becoming a public company in the U.S. is a significant step forward in our plans to build and develop one of the largest and most efficient fuel and convenience store chains in the United States. Through this transaction, we are now well positioned to continue our growth and geographical expansion, and accelerate our store remodel program, while advancing our leading market position in the convenience store industry.
In May 2021, we closed on the acquisition of 60 ExpressStop convenience stores located in Michigan and Ohio, which complemented the existing base of stores in the Midwest.