GPM Investments Deal Closed
GPM Investments Deal Closed. Begins Operation of 42 Road Ranger Convenience Stores and one Subway location
March 20, 2015
RICHMOND, VA—GPM Investments, LLC, has expanded into the Midwest by taking ownership of 42 convenience stores with gasoline sales and one Subway location in Illinois, Iowa and Kentucky. GPM will initially operate these stores under the Road Ranger brand name and then transition to one of its existing retail brands.
Previous Road Ranger employees at these stores were hired by GPM. “Bringing them into the GPM family was very important to our leadership team” said Mike Welsh, Senior VP of Operations. Welsh, who hails from the Midwest, went on to say, “Expanding to this area of the country feels like going home for me and it will be a real pleasure to bring these stores into the GPM portfolio.”
“We are very excited to continue offering the same great deals on fuel, snacks, beverages and more, while introducing our own loyalty and discount programs,” said Senior VP of Marketing, Bill Reilly. “We will launch our fasCASHBACK® fuel discount card at these Road Ranger stores, a program which is also offered at our Fas Mart® and Shore Stop® locations. This card allows customers to receive discounts on every gallon of fuel purchased, up to 20¢ off per gallon, when they open up an account with us. This is a tremendous value to offer to our new customers.”
GPM Investments, LLC is one of the largest privately-owned companies in the convenience store channel. GPM Investments recently began operating eight One Stop Stores in North and South Carolina which were previously owned by Arey Oil. The stores are currently being rebranded as Scotchman®. In addition to these eight stores, as well as the planned acquisition of 163 convenience stores from VPS Convenience Store Group, LLC, which was previously announced, GPM will widen its reach to over 800 stores in a total of 14 states. GPM operates under highly recognizable brand names including Fas Mart®, Shore Stop®, Scotchman Stores®, Young’s, Li’l Cricket and BreadBox. These convenience stores have a wide array of food offerings, a house blend of coffee, fountain and packaged beverages, a large selection of groceries, tobacco, alcohol, personal care products and much, much more.