GPM Deal Closed; GPM Begins Operation of 1-Stop C-Stores in Michigan
Marks GPM’s 3rd acquisition in 2018 securing them as the 6th largest convenience store chain in the country with almost 1,400 sites
June 13, 2018
RICHMOND, VA—A subsidiary of GPM Investments, LLC, has taken ownership of eleven (11) convenience stores with fuel sales in Michigan from DMJ Corporation. This growth will further develop GPM’s existing portfolio in the Midwest region.
The chain was founded in 1948 in Flint, MI by Don Sr. and his wife Edna Pietras and it is a third-generation, family owned retail gas and convenience store operator. “Our core focus with this sale was to find a strategic buyer that would carry on the same high standards and values towards our customers and employees,” said Don Pietras, III, President of DMJ Corporation. “My brothers Todd, Jason and I have been proud to continue the fine work of our father, Don Pietras Jr., and his father. It has been a privilege for the entire family to serve and support our local communities and we’d like to thank our loyal team of employees in representing our company with honor.”
In addition to the traditional c-store offerings, 1-Stop Stores have also become well-known for their proprietary loyalty program. In one year alone, 1-Stop customers earned over $163,000 in free fuel and $100,000 in free drinks and merchandise by means of the 1-Stop “My Savings Card.”
“We are very excited about acquiring the 1-Stop Stores. The Pietras family and their employees have served their customers with dedication and enthusiasm. We are eager to remain on the same path of service with passion and commitment,” said Arie Kotler, CEO. Kotler went on to say, “Bringing the 1-Stop 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.”
About GPM Investments, LLC
GPM Investments, LLC, together with its subsidiaries, is the largest privately-owned company in the convenience store channel of business. With recent acquisitions, GPM has widened its reach to approximately 1,400 stores. The company, based in Richmond, VA, now 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. Its stores offer specialty a large selection of grocery items, such as fresh fruit, an exclusive (e)vapors® line, a proprietary fas SNACKS line, and many other products to suit the needs of every customer. One feature, setting many of its convenience stores apart is a wide array of proprietary food offerings ranging from fresh-made salads and sandwiches to healthy, grab-and-go meals.
Visit www.gpminvestments.com to learn more about GPM’s stores.
Downstream Energy Partners LLC (“DEP”), provided exclusive merger and acquisition advisory services to DMJ Corporation. DEP is a leading investment bank specializing in M&A advisory services to middle market companies within the downstream energy sector and is comprised of professionals who have decades of experience as both owner/operators and strategic financial advisors to energy companies. “GPM Investments has acquired a quality chain of stores in a location strategic to their growing national footprint,” said George Wedemeyer, Managing Partner of Downstream Energy Partners, adding, “The Pietras family has built an exceptional company and it’s been a pleasure representing them in this transaction.”
Released June 13, 2018