At the deal’s close, GPM will acquire 67 c-stores.
An agreement to acquire 42 convenience stores with gasoline and 25 dealer-operated stores in Virginia and Kentucky has been signed by GPM Investments LLC, further developing GPM’s existing portfolio of stores in the Southeast. The acquisition is expected to close in the first quarter of 2016.
GPM anticipates extending an offer to the existing operations employees of the acquired stores to join the GPM family.
“We are thrilled to continue our path of expansion and we view this store acquisition as a very important part of our growth plan,” said GPM president and CEO Arie Kotler. “We have enjoyed serving our loyal customers in Virginia and Kentucky, and we look forward to making these locations a new part of the GPM family.”
“Fuel USA is pleased to have its Apple Market stores and dealer operations join a quality operator like GPM. This step allows us to accelerate our plan by several years to become part of a larger organization,” said Fuel USA CEO Don Draughon. “We believe this is a very positive step for our customers, employees and shareholders.”
