GPM Investments to Acquire E-Z Mart Stores in Texas, Oklahoma, Louisiana & Arkansas
As of the closing, GPM will operate and supply over 1,400 sites in 22 states making it the 6th largest convenience store chain in the country
December 26, 2017
RICHMOND, VA—GPM Investments, LLC signed an agreement to acquire 272 convenience stores in Texas, Oklahoma, Louisiana and Arkansas from E-Z Mart Stores, Inc. This acquisition will allow GPM to expand its existing portfolio of stores into the Southwest. The acquisition is expected to close in the second quarter of 2018.
“We have enjoyed serving our existing customers and are thrilled to begin serving customers in these new states, as well,” said GPM President and CEO Arie Kotler. “We look forward to our expansion as we make these locations a new part of the GPM family.”
“In 1970 E-Z Mart began as the dream of our founders, Jim and FaEllen Yates with the first store in Nashville, Arkansas. From those humble beginnings and with a lot of hard work and dedication by generations of E-Z Mart family of associates, our company has become one of the leading, privately-owned convenience store chains in the U.S. and is currently ranked as the 31st largest company,” said E-Z Mart’s CEO, Sonja Yates Hubbard. “The significant investment in our store portfolio of the last decade has changed both our look, profitability and advanced the quality of service we provide our customers. Endeavoring to escalate that rate of improvement, ensuring growth opportunities for our brand and team, we are now excited that this combination of the E-Z Mart brand with GPM will exponentially accelerate that growth, benefiting everyone involved. Upon closing, E-Z Mart will leap from the 31st largest chain in the U.S., to being a part of the 6th largest chain, securing a bright future for our stores, team and Jim Yates’ legacy. ”
“The E-Z Mart store employees have long served customers with dedication and enthusiasm. We are eager to remain on the same path of service with passion and commitment,” said Chris Giacobone, GPM Chief Operating Officer. Giacobone went on to say, “Bringing the E-Z Mart employees into the GPM family was very important to our leadership team and we look forward to our continued growth with these new stores.”
BofA Merrill Lynch acted as exclusive financial advisor and Chamberlain Hrdlicka acted as legal counsel to E-Z Mart in connection with the transaction. Raymond James acted as exclusive financial advisor to GPM in connection with the transaction.
About GPM Investments, LLC
GPM Investments, LLC, together with its subsidiaries, is the largest privately-owned company in the convenience store channel of business. The company, based in Richmond, VA, operates or supplies fuel to over 1,100 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. Its stores offer specialty 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 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.
About E-Z Mart Stores, Inc.
E-Z Mart Stores, Inc. is a privately held, family-owned business established in 1970, currently operating almost 300 convenience stores in Arkansas, Louisiana, Oklahoma and Texas that employs over 2,200 valued associates. The company’s Store Support Center and Maintenance Facility are based in Texarkana, TX. Convenience is not just in the name but in the hearts of the team that strives daily to ‘Make Life EZR 4 U!’
Released December 28, 2017