Mechanicsville, Va.-based GPM Investments, parent company of Fas Mart and Shore
Stop stores, has signed an agreement ot pick up 58 stores in the Virginia and Tennessee markets.
The seller, according to The Daily Times of Salisbury, Md., is currently operating all 58 of the units, 55 of which feature gas stations. Twelve of the units feature foodservice offerings operated by the seller.
GPM paid $46 million for the stores, according to the Times, and plans to rebrand the stores under the Fas Mart banner. All current store employees will stay onboard to operate the units, the company said.
GPM currently operates 145 stores sporting the Fas Mart or Shore Stop banners