US: GPM makes new Midwest acquisitions

GPM Investments will further expand its growing convenience store network in the U.S. with the acquisition of a c-store portfolio in the Midwest.

The company has signed an agreement to purchase 21 convenience stores in Illinois, Iowa and Nebraska from Gas-Mart USA Inc. and its affiliates, reported CSP News.

Gas-Mart has suffered economic difficulties in recent times, with the company filing for bankruptcy in July 2015, and has been selling its assets since then.

GPM was recently given a major boost to grow its fuel distribution business after penning a $70 million private equity investment.

The company, together with its subsidiaries, currently operates 665 company-op convenience stores and more than a 100 dealer locations.