WEST DES MOINES, Iowa – (September 11 , 2012) – Kum & Go and Casey’s General Stores, Inc. (Nasdaq symbol CASY) announced today 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.
“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.”
The following stores are included in the purchase agreement:
210 N Main St, Sigourney, IA
400 S Main St, Osceola, IA
744 Washington St, Pella, IA
413 A Ave W, Oskaloosa, IA
901 S Market St, Oskaloosa, IA
318 N Lincoln St, Knoxville, IA
1201 E Main St, Knoxville, IA
1400 E Washington St, Clarinda, IA
106 S 4th St, Forest City, IA
508 SE Kent St, Greenfield, IA
501 S Main St, Monticello, IA
919 W Washington St, Marshfield, MO
903 N Sumner Ave, Creston, IA
301 W Taylor St, Creston, IA
702 Chatburn Ave, Harlan, IA
204 S Main St, Albia, IA
3001 Main St, Emmetsburg, IA
916 E Main St, Marshalltown, IA
504 10th St, Hawarden, IA
503 S Franklin St, Kirksville, MO
112 N Main St, Horace, ND
1301 W Sheridan Ave, Shenandoah, IA
The less Kum n go’s are around, the less the price of gas will be. Always the first to go up and the last to go down. perhaps the reason why they’re selling is customers are getting smarter in buying gas (and whatever else they sell) elsewhere? Never buy gas or anything from these criminals.
I can’t smoke anymore but I always remember Kum&Go charging a buck more for smokes. Then any other place.
After all the work the Founder put into growing the chain, it has to be a disappointment to the old man.
Of course it aint the first time I have seen the kids take over, and contract the business to get short term gains. There are so many cases of kids trying to get rich quick after their folks built a business from the ground up, sometimes over the course of a century.