Boasting a 1,100-store portfolio, GPM Investments has strengthened its operational footprint in Missouri.
GPM Investments LLC has acquired seven Jiffy Stop Food Marts locations. The acquisition will further develop GPM’s footprint in the Midwest.
Jiffy Stop’s president, Wayne Compton, said he will miss the excitement and challenges of the convenience store industry but after nearly 30 years in the business, felt it was time to let the “big operators get bigger” and for him and his daughter, Cecily, to focus on other projects.
In a new release, GPM CEO Arie Kotler, explained the deal is beneficial for both parties.
“We are very excited about these seven Jiffy Stop Food Marts. We plan to continue serving their customers with the same dedication and enthusiasm,” said Kotler. “Bringing these employees into the GPM family was very important to our leadership team and we look forward to our continued development as we grow through acquisitions.”
GPM Investments, based in Richmond, Va., operates or supplies fuel to more than 1,100 c-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 and now with the acquisition of the Jiffy Stop stores they are now have a solid retail base in Missouri.
American Business Brokers & Advisors and W.J.F. Services provided merger and acquisition advisory services to Jiffy Stop Food Marts, said Terry Monroe, president of American Business Brokers & Advisors.
Headed by Bill Fechy, W.J.F. Services is a petroleum advisory service, based in Normal, Ill.