The Oskaloosa Herald
WEST DES MOINES —
Kum & Go and Casey’s General Stores, Inc. (Nasdaq symbol CASY) 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.
“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:
413 A Ave W
Oskaloosa
IA
901 S Market St
Oskaloosa
IA
210 N Main St
Sigourney
IA
400 S Main St
Osceola
IA
744 Washington St
Pella
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 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.
