GPM Investments Deal Closed. Begins Operation of 170 Admiral Petroleum Co. Stores in Michigan and Indiana
GPM now operates and supplies over 1,000 sites in 18 states making them the 8th largest convenience store chain in the country
November 15, 2016
RICHMOND, VA—GPM Investments, LLC and its affiliates have taken ownership 137 convenience stores with fuel sales and 33 discount tobacco shops in Michigan and Indiana from Admiral Petroleum Company. This acquisition will further develop GPM’s existing portfolio of stores in the Midwest region. GPM will continue to operate these stores under the current Admiral and Admiral Discount Tobacco brand names.
“The Admiral store employees have served customers with dedication and enthusiasm. We are eager to remain on the same path of service with passion and commitment,” said Chris Giacobone, Chief Operating Officer. Giacobone went on to say, “Bringing the Admiral employees into the GPM family was very important to our leadership team and we look forward to our continued growth with these new stores.”
Admiral Petroleum Company started operating some of its first convenience stores in Greenville, Michigan, in the 1950s; some of which are still open for business today. Admiral has a well-known reputation as being one of the first convenience store operations to sell milk, bread and eggs at their stores. This strategy established them as retail pioneers and their concept continues to be widely duplicated throughout the industry.
The major initiative of Admiral Petroleum Company has always been focused on “giving the customer a fair value for their dollar.” Admiral was able to meet this objective by eliminating the middleman and buying in bulk, warehousing and distributing most of its products directly to the Admiral stores.
In 1995, Admiral started another division with the creation of Admiral Discount Tobacco. Again, they were able to offer the best price to customers with wholesale and retail marketing of tobacco products.
Admiral established many trends still present today in the c-store channel of business. As always, GPM plans to stay on the same trajectory of putting the customer first while continuing to expand and enhance their goals for this new store group, too.
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 the addition of the Admiral stores, GPM has widened its reach more than 1,000 stores. The company, based in Richmond, VA, operates or supplies fuel to stores in Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Maryland, Michigan, Missouri, Nebraska, New Jersey, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee and Virginia. Their stores offer specialty coffee and cappuccino, innovative beverage programs, a large selection of grocery items, such as fresh fruit, an exclusive E-vapors® line, and many other products to suit the needs of every customer. One feature, setting many of their convenience stores apart, is their 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 their stores.
Released November 15, 2016