GPM Investments has now acquired the Jiffi Stop brand along with 20 Illinois c-stores.
GPM Investments, a subsidiary of Petro Group Ltd., has now acquired the Jiffi Stop brand from Smith Oil Co.
As a part of the acquisition, GPM will be adding 20 Illinois Jiffi Stop stores to the company’s portfolio of approximately 800 stores. According to a report from The State Journal-Register, the employees of these stores have been notified of the change. GPM will likely retain the current employees of the 20 stores.
The State Journal-Register has reported that the Illinois Department of Employment Security has indicated that 17 employees of the Jiffi Stop corporate office would be laid off, but continued employment is likely for the company’s remaining employees. However, as a formality, Smith Oil has sent out a “mass layoff” notice to all of its employees.
In addition to this newly announced acquisition, GPM has also converted 42 Road Rangers stores to the Fas Mart brand, and it recently acquired 15 Gas-Mart USA convenience stores in Illinois, Iowa and Nebraska. The State Journal-Register reported that GPM hired all of the Gas-Mart USA front-line employees following the acquisition.