GPM Investment LLC and Hurst Harvey Oil Inc., a family-owned and operated business in the Northern Neck of Virginia, have entered into an agreement for GPM Investments to purchase five GET & ZIP convenience stores, all with BP branded fuels from Hurst Harvey Oil Inc.
Hurst Harvey Oil has operated family-oriented convenience stores in the Northern Neck and Middle Peninsula for over 25 years. GPM Investments currently operates 55 Fas Mart convenience stores in this part of Virginia. The transaction is expected to close Aug. 1, 2013.
The Richmond, Va. based company and its CEO Arie Kotler has been committed to growth since Kotler and his affiliates acquired control of GPM in 2011. Kotler can’t wait to welcome each and every member of the Hurst Harvey team to the GPM family later this month, the company reported.
In June of this year, GPM also entered into an agreement to purchase the assets of VPS Convenience Store Group LLC, SE division. VPS’s SE division, based in Wilmington, N.C. has 263 company-operated units plus 33 dealer locations and a transportation company. Retail brands part of the purchase will be Scotchman, Young’s, Li’l Cricket, Everyday Shop and Cigarette City. VPS Foodservice is made up of 26 branded QSR locations Plus 46 proprietary Delis.
When GPM completes these two purchases they will have a total of 472 company operated stores and 143 dealer locations for a total of 615 stores making GPM Investments LLC, one of the largest privately-owned companies in the convenience channel of business. The company will now operate stores in Virginia, Connecticut, Delaware, Maryland, Pennsylvania, North Caroline, South Carolina, Rhode Island, New Jersey and Tennessee.
Kotler added,“We will continue to focus on growing this company though acquisitions and service to the public.”