GPM Petroleum LP Filed, US Offering, NYSE: GPMP

Distributes motor fuel to GPM Investments' over 600 acquired convenience stores.

Industry: Energy

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Industry: Energy

We are a growth-oriented Delaware limited partnership formed by GPM to engage in the wholesale distribution of motor fuels on a fixed fee per gallon basis to GPM-controlled convenience stores and third parties. We commenced operations on January 12, 2016. As of March 31, 2017, GPM, the seventh largest convenience store chain in the United States ranked by store count, controlled 805 convenience stores that sell motor fuel, merchandise, food, beverages and other products and services to retail customers in the Mid-Atlantic, Southeastern, Midwestern and Northeastern United States. GPM is obligated to purchase all of its motor fuel from us under 10-year wholesale motor fuel distribution agreements. For the three months ended March 31, 2017 and the year ended December 31, 2016, we distributed approximately 180.0 million and 660.8 million gallons of motor fuel, respectively, to GPM-controlled sites and 1.4 million and 6.3 million gallons of motor fuel, respectively, to third-party customers. We believe we are one of the largest independent motor fuel distributors by number of convenience stores in the United States, the largest distributor of Valero-branded motor fuel on the East Coast and the third largest distributor of Valero-branded motor fuel in the United States. In addition, we receive rental income from real estate that we own and lease to third parties.
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IPO News for GPM Petroleum LP
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IPO Data
IPO File Date 04/28/2017
Offer Price
Price Range n/a
Offer Shares (mm) n/a
Deal Size ($mm) $100
IPO Data
IPO Date
Offer Price
Price Range n/a
Offer Shares (mm) n/a
Deal Size ($mm) $100
Underwriters
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Company Data
Headquarters Richmond, VA
Founded 2003
Employees
Website gpminvestments.com