Road Ranger changing to Fas Fuel

Transition follows sale of 42 stores in March 2015

George C. Ford/The Gazette

A Fas Fuel canopy sign at the Road Ranger convenience store at 3330 16th Ave. SW in Cedar Rapids is an early indication of the transition to Fas Mart, a convenience store brand owned by GPM Investments of Richmond, Va. The Israeli-owned company acquired six Road Ranger stores in Cedar Rapids and Marion in March 2015 when it bought 43 stores from Road Ranger LC of Rockford, Ill.
George C. Ford/The Gazette A Fas Fuel canopy sign at the Road Ranger convenience store at 3330 16th Ave. SW in Cedar Rapids is an early indication of the transition to Fas Mart, a convenience store brand owned by GPM Investments of Richmond, Va. The Israeli-owned company acquired six Road Ranger stores in Cedar Rapids and Marion in March 2015 when it bought 43 stores from Road Ranger LC of Rockford, Ill.

New signs are slowly appearing at Road Ranger convenience stores in Cedar Rapids and Marion, beginning the transition to Fas Mart.

GPM Investments of Richmond, Va., bought 43 Road Ranger stores in Iowa, Illinois and Kentucky in March 2015. Road Ranger LC of Rockford, Ill., sold the convenience stores to focus on its portfolio of truck stops and travel center locations.

GPM Investments is an Israeli-owned operator of approximately 800 convenience stores across 14 states, including BreadBox, Fas Mart, Shore Stop, Scotchman Stores, Young’s and Li’l Cricket.

“Road Ranger, with its well-deserved reputation in the Midwest region, is a great fit for GPM, allowing us to broaden our exposure in the convenience and fuel channels of business,” said GPM President and CEO Arie Kotler in a news release. “We are excited to maintain this path of expansion as an acquisition based company and we will continue to seek more opportunities to grow strategically.”

Road Ranger owns more than 30 truck stop and travel center locations in six states with additional locations to be added through acquisitions and new construction, primarily in Texas and Illinois.

“Road Ranger has been focusing its resources and energies on improving and expanding its network of truck stop and travel center locations in the U.S.,” said Road Ranger President David Saporta in a news release. “This divestiture is being made to support that growth mission and to accelerate its realization,”

Road Ranger bought six convenience stores in Cedar Rapids and Marion from Tulsa, Okla.-based Quik Trip in February 2007.

CONTINUE READING

MORE Business ARTICLES TO READ NEXT ...

United Technologies Corp. is considering a breakup.The manufacturer is studying a plan to split a portfolio that includes jet engines, elevators and air conditioners, CEO Greg Hayes said Wednesday at an investor conference. A deci ...

CEDAR RAPIDS - As owner of Baby Time, a family shop in Cedar Rapids, Kristen Mead has the opportunity to connect with families very early on. Baby Time got its start as an online boutique, offering cloth diaper supplies, in April ...

Give us feedback

Have you found an error or omission in our reporting? Tell us here.

Do you have a story idea we should look into? Tell us here.