GPM acquires South Carolina truck stop, c-stores from Crenco
GPM Southeast, a subsidiary of GPM Investments, has acquired four convenience stores and one truck stop location in South Carolina from Crenco Food Stores and Crenshaw Oil Company (Crenco).
Owned by the Crenshaw family, Crenco has been in business for nearly 50 years and was recently named the 2017 South Carolina Retailer of the Year.
The convenience stores and truck stop are all high volume and highly profitable stores, selling Exxon branded gasoline and assorted convenience merchandise.
“We are very excited about these five Crenco Food Stores. Bringing these employees into the GPM family was very important to our leadership team and we look forward to our continued development as we grow through acquisitions,” said Arie Kotler, CEO, GPM Investments.
Matrix Capital Markets Group provided merger and acquisition advisory services to Crenco.
