GPM Buys Five C-stores From Hurst Harvey Oil
RICHMOND, Va. -- GPM Investments LLC, operator of the Fas Mart and Shore Stop chains, has reached a deal to purchase five convenience stores from Hurst Harvey Oil Inc.
The GET & ZIP convenience stores, all with BP-branded fuels, are located in northern Virginia. The transaction is expected to close Aug. 1.
Hurst Harvey Oil has operated family-oriented convenience stores in the Northern Neck and Middle Peninsula areas of Virginia for more than 25 years. GPM Investments currently operates 55 Fas Mart convenience stores in the same area of Virginia.
This is the second acquisition for GPM Investments in less than two months. In early June, the Richmond, Va.-based company inked a deal to acquire VPS Convenience Store Group's Southeast division, as CSNews Online previously reported. That agreement gives GPM 263 company-operated convenience stores and 33 dealer sites. Wilmington, N.C.-based VPS is an affiliated portfolio company of Sun Capital Partners Inc.
Once the two acquisitions are complete, GPM will have 472 company-operated stores and 143 dealer locations, for a total of 615 stores. The company will now operate stores in Virginia, Connecticut, Delaware, Maryland, Pennsylvania, North Carolina, South Carolina, Rhode Island, New Jersey and Tennessee.
"We will continue to focus on growing this company through acquisitions and service to the public," GPM Investments CEO Arie Kotler said.