Casey’s Purchasing 22 Kum & Go Sites in Rural Iowa

“These types of communities have proven to be an excellent fit for our business model,” says Casey’s CEO.

Casey’s General Stores Inc. is acquiring 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 CEO Kyle 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 Krause.

“These stores are predominantly in rural Iowa locations,” said Casey’s President and CEO Robert 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

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