Area Kum & Go Stores Being Sold To Casey’s
When the sale becomes final, this Kum & Go location on South Market in Oskaloosa will become a Casey’s location. (photo by Ginger Allsup)
Kum & Go To Sell 22 Stores to Casey’s
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 J. 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 are area stores being sold:
413 A Ave W Oskaloosa, IA
901 S Market St Oskaloosa, IA
210 N Main St Sigourney, IA
744 Washington St Pella, IA
318 N Lincoln St Knoxville, IA
1201 E Main St Knoxville, IA
204 S Main St Albia, IA
The following stores are also included in the purchase agreement:
400 S Main St Osceola, 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
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 acquisition is subject to certain regulatory approvals and other customary closing conditions, including the receipt of satisfactory inspection reports related to the stores. The transaction is expected to close in November 2012.
