GPM Completes Acquisition of Town Star Stores
RICHMOND, Va. — A subsidiary of GPM Investments LLC closed on its acquisition of Town Star Stores LLC and has taken ownership of 18 convenience stores with fuel stores.
The purchase of the Port Saint Lucie, Fla.-based chain marks GPM's entrance into the Florida market. GPM plans to continue to expand in the region as part of its growth strategy in the Southeast.
"We are very excited about the Town Star Stores. We have plans to launch our proprietary fas REWARDS loyalty program as soon as possible to offer our new customers great savings and value when they visit us," said Arie Kotler, CEO of GPM. "We plan to provide these customers with quality service and superior products. Also, bringing the Town Star family of associates into the GPM fold was very important to our leadership team. We look forward to our continued development as we grow together through acquisitions."
Many of the acquired stores have strong foodservice offerings, and 10 have in-store Subway restaurants, according to GPM.
Richmond-based GPM Investments has approximately 1,400 convenience stores and operates or supplies fuel to stores in Arkansas, Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Louisiana, Maryland, Michigan, Missouri, Nebraska, New Jersey, North Carolina, Ohio, Oklahoma, Pennsylvania, South Carolina, Tennessee, Texas and Virginia.