The convenience top 101

#23

GPM Investments LLC (Fas Mart) and GPM Southeast LLC

Headquarters:Richmond, Va.
No. of Stores:472
Avg. Store Size:2,500-4,000 sq. ft.
States of Operation:Connecticut, Delaware, Maryland, New Jersey, North Carolina, Pennsylvania, Rhode Island, South Carolina, Tennessee, Virginia

GPM Investments was founded in 2003. In June 2013, GPM Investments LLC acquired 263 stores from VPS Convenience Group. The transaction makes GPM one of the largest privately owned companies in the convenience channel, with outlets in 12 states.

GPM operates as Fas Mart and Shore Stop. With the VPS deal, the chain takes on more store brands: Scotchman, Young’s, Li’l Cricket, Everyday Shop, Breadbox and Cigarette City.

GPM Southeast is based in Wilmington, N.C., in the former headquarters of VPS. Including the Southeast division, GPM overall employs more than 2,200 employees. The company’s ongoing strategy is to grow through acquisition.

Fas Mart varies its value proposition by market. In most markets, the chain is not the dominant retailer, but it works to remain competitive on key items/categories and often takes alternative strategies to differentiate itself from the dominant competitors.

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