GPM Investments LLC has closed a deal with private equity firm Sun Capital Partners Inc. to buy Admiral Petroleum Co. and Lemmen Oil Co., two gas store brands. The deal further expands GPM’s footprint in the Midwest region. Terms of the deal were undisclosed.
The deal for Admiral includes 161 Admiral-branded and 9 Lemmen-branded convenient stores, all with fuel sales. The target, based in Coopersville, Michigan, was founded in the 1950’s with its first operations beginning in Greenville, Michigan. Admiral touts itself as one of the pioneers of the milk, bread and egg concept in gas stations.