Kum & Go and Casey's General Stores, Inc. announced Tuesday that they have signed an asset purchase agreement for Casey's to acquire 22 convenience stores from Kum & Go. The stores are located in Iowa, Missouri and North Dakota.
The Kum & Go at 916 E. Main St., will be acquired by Casey's.
"Our company is committed to carefully-planned, strategic growth - that's evidenced by the fact that we'll open 40 new stores this year alone," said Kyle J. Krause, Kum & Go president and CEO. "It's our continued desire to consolidate and strengthen our asset base and offer a consistent brand to our customers in Kum & Go's core markets. The sale of these properties, in addition to our new store growth, brings us one step closer to carrying out that strategy."
"These stores are an excellent fit to our existing store base and will allow us an opportunity to operate in a new state," said Robert Myers, president and CEO of Casey's. "We expect this acquisition to be accretive in the first year of operation and enhance future earnings as we integrate our prepared food operations."