GPM Investments Acquires Hurst Harvey Oil

acquisitionGPM Investments has successfully acquired Kilmarnock, Va.-based Hurst Harvey Oil, Inc., according to Matrix Capital Markets Group Inc.

Hurst Harvey is a petroleum marketing and convenience store company. The company’s retail units trade as Get & Zip and are located on the Northern Neck and Upper Peninsula communities in Virginia. The Hurst Harvey stores offer BP-branded motor fuels and a traditional set of convenience store merchandise, as well as freshly prepared foods in most units.

Originally founded in 1950, the company was taken over by Raymond and Jean Lewis in 1973, and has been family owned and operated ever since. Hurst Harvey entered the convenience store business when it acquired its first store in 1985 from Frank Bradley, the original owner of Fas Mart.

“As a family operated company for over 28 years, it was a very difficult decision to sell our retail units,” said Melinda Lewis. “We are confident we selected the best help with Spencer Cavalier, Sean Dooley and the Matrix team.  Their professionalism, industry knowledge and patience led to a smooth acquisition.”

Matrix provided merger and acquisition advisory services to Hurst Harvey, which included valuation advisory, transaction structuring, marketing and assistance in the negotiation of the purchase agreement. The transaction was managed by Spencer Cavalier, director at Matrix who was assisted by Sean Dooley, associate and Andrew LoPresti, senior analyst.

“We feel very fortunate to have served as a trusted advisor to the Hurst Harvey shareholders since 2007, and we are honored to have structured and executed the successful sale of the company on behalf of the family,” said Cavalier.

B.H.B. Hubbard, III, of Hubbard, Terry & Britt served as legal counsel for Hurst Harvey.

 

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