GPM Investments LLC and its affiliates have acquired 137 convenience stores with fuel sales and 33 discount tobacco shops in Michigan and Indiana from Admiral Petroleum Co.
This acquisition will further develop GPM’s existing portfolio of stores in the Midwest region. GPM will continue to operate these stores under the current Admiral and Admiral Discount Tobacco brand names.
“The Admiral store employees have served customers with dedication and enthusiasm. We are eager to remain on the same path of service with passion and commitment,” said Chris Giacobone, chief operating officer. “Bringing the Admiral employees into the GPM family was very important to our leadership team and we look forward to our continued growth with these new stores.”
Admiral Petroleum Co. started operating some of its first convenience stores in Greenville, Mich. in the 1950s; some of which are still open for business today. Admiral has a well-known reputation as being one of the first convenience store operations to sell milk, bread and eggs at their stores. This strategy established them as retail pioneers and their concept continues to be widely duplicated throughout the industry.
The major initiative of Admiral Petroleum Co. has always been focused on “giving the customer a fair value for their dollar.” Admiral was able to meet this objective by eliminating the middleman and buying in bulk, warehousing and distributing most of its products directly to the Admiral stores.
In 1995, Admiral started another division with the creation of Admiral Discount Tobacco. Again, they were able to offer the best price to customers with wholesale and retail marketing of tobacco products.
Admiral established many trends still present today in the c-store channel of business. As always, GPM plans to stay on the same trajectory of putting the customer first while continuing to expand and enhance their goals for this new store group, too.
Based in Richmond, Va., GPM operates or supplies fuel to stores in Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Maryland, Michigan, Missouri, Nebraska, New Jersey, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee and Virginia.