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.