CASEYS GEN NPV : Casey's to Purchase 22 Kum & Go Stores in Iowa
06/03/2011| 10:00am US/Eastern
Recommend:
Casey's General Stores, Inc. (Nasdaq: CASY) and Kum & Go announced today
that they have signed a definitive purchase agreement for Casey's to
acquire 22 convenience stores from Kum & Go. All 22 stores are located
in Iowa operating under the Kum & Go banner. The stores will be
immediately rebranded to Casey's once the transaction is completed.
According to Kum & Go Owner, President and Chief Executive Officer Kyle
J. Krause, the proceeds generated by this sale will be reinvested in Kum
& Go's 400+ remaining stores and used to drive the company's long-term
business and growth strategies.
"I extend my sincere appreciation to our associates and loyal customers
in these communities for the important role that they have played in Kum
& Go's history and the overall success of these stores," stated Mr.
Krause.
"These stores are predominantly in rural Iowa locations," said Casey's
President and Chief Executive Officer Robert J. Myers. "These types of
communities have proven to be an excellent fit for our business model
and we are very excited to implement our proprietary prepared food
program."
Casey's expects this acquisition to be immediately accretive to earnings
in their first full year of operation. The acquisition is subject to
certain regulatory approvals and other customary closing conditions. The
transaction is expected to close in July 2011 and will be funded by
existing cash and cash flow.
Below, a list of the 22 stores and their addresses:
|
|
|
|
1.
|
|
|
ARMSTRONG
|
|
|
|
|
|
|
|
307 S. Fourth Avenue
|
|
|
|
|
2.
|
|
|
ATLANTIC
|
|
|
|
|
|
|
|
701 Poplar
|
|
|
|
|
3.
|
|
|
BRITT
|
|
|
|
|
|
|
|
576 N. Main Avenue
|
|
|
|
|
4.
|
|
|
BROOKLYN
|
|
|
|
|
|
|
|
106 W. Second Street
|
|
|
|
|
5.
|
|
|
CARROLL
|
|
|
|
|
|
|
|
613 W. U.S. Hwy 30
|
|
|
|
|
6.
|
|
|
CEDAR FALLS
|
|
|
|
|
|
|
|
601 Main Street
|
|
|
|
|
7.
|
|
|
CENTERVILLE
|
|
|
|
|
|
|
|
830 N. 18th Street
|
|
|
|
|
8.
|
|
|
CENTERVILLE
|
|
|
|
|
|
|
|
401 W. Maple
|
|
|
|
|
9.
|
|
|
CHARITON
|
|
|
|
|
|
|
|
335 N. Main
|
|
|
|
|
10.
|
|
|
CHEROKEE
|
|
|
|
|
|
|
|
1200 N. Second Street
|
|
|
|
|
11.
|
|
|
CHEROKEE
|
|
|
|
|
|
|
|
242 E. Main Street
|
|
|
|
|
12.
|
|
|
ELK RUN HEIGHTS
|
|
|
|
|
|
|
|
5202 Lafayette
|
|
|
|
|
13.
|
|
|
ESTHERVILLE
|
|
|
|
|
|
|
|
103 Central Avenue
|
|
|
|
|
14.
|
|
|
ESTHERVILLE
|
|
|
|
|
|
|
|
1615 Central Avenue
|
|
|
|
|
15.
|
|
|
GARNER
|
|
|
|
|
|
|
|
145 Highway 18 W.
|
|
|
|
|
16.
|
|
|
IOWA FALLS
|
|
|
|
|
|
|
|
904 Washington
|
|
|
|
|
17.
|
|
|
MEDIAPOLIS
|
|
|
|
|
|
|
|
208 Wapello Street
|
|
|
|
|
18.
|
|
|
SHELDON
|
|
|
|
|
|
|
|
519 Second Avenue
|
|
|
|
|
19.
|
|
|
SHELDON
|
|
|
|
|
|
|
|
504 Second Avenue
|
|
|
|
|
20.
|
|
|
ST. CHARLES
|
|
|
|
|
|
|
|
209 E. Main Street
|
|
|
|
|
21.
|
|
|
STORM LAKE
|
|
|
|
|
|
|
|
825 Flindt
|
|
|
|
|
22.
|
|
|
WASHINGTON
|
|
|
|
|
|
|
|
304 E. Washington Street
|
Casey?s General Stores, Inc.
Bill Walljasper, 515-965-6505
© Business Wire 2011
Recommend :
