Press release
Casey’s Agrees to Acquire 63 Convenience Stores From EG Group
ANKENY, Iowa--(BUSINESS WIRE)-- Casey’s General Stores, Inc. (“Casey’s”) (Nasdaq: CASY) today announced an agreement to acquire 63 convenience stores from EG
About this update from Caseys General Stores, Inc.
[{"type":"text","content":" ANKENY, Iowa--(BUSINESS WIRE)--\nCasey’s General Stores, Inc. (“Casey’s”) (Nasdaq: CASY) today announced an agreement to acquire 63 convenience stores from EG America, LLC (“EG America”), a subsidiary of EG Group Ltd. (“EG Group”).\n\n\nThe stores are located in Kentucky and Tennessee, and currently operate under the Minit Mart and Certified Oil banners.\n\n\nCasey’s and EG America, two of the leading convenience store chains in the United States, anticipate the deal will close later this year, subject to customary regulatory approvals. Casey’s is expected to retain the impacted employees at each store, and EG America is cooperating to make their transition as seamless as possible.\n\n\nDarren Rebelez, President and Chief Executive Officer at Casey’s, said: “One of the key pillars in our strategic plan is to accelerate our store growth over the next three years and bring Casey’s to more communities. This opportunity is an excellent strategic fit as we look to add locations in Kentucky and Tennessee, which are both within our existing distribution footprint. We look forward to serving more guests in these markets and welcoming the team members from this transaction into the Casey’s family.”\n\n\nNick Unkovic, President of EG America, said: “We have built a strong and successful business over the years in these Certified Oil and Minit Mart stores, and we are proud of the hard work and dedication shown by our team members there. Casey’s is an excellent operator, and we believe these stores and team members will continue to thrive under their ownership.”\n\n\nZuber Issa, co-Founder and co-CEO of EG Group, said: “EG Group is pleased to have found a new home for some of our Certified Oil and Minit Mart portfolio. This divestment will enable both parties to execute their strategic plans, respectively. For EG Group, this divestment also represents another important step in executing our deleveraging strategy.”\n\n\nAbout Casey’s\n\n\nCasey’s is a Fortune 500 company (NASDAQ: CASY) operating over 2,500 convenience stores. Founded more than 50 years ago, the company has grown to become the third-largest convenience store retailer and the fifth-largest pizza chain in the United States. Casey’s provides freshly prepared foods, quality fuel and friendly service at its locations. Guests can enjoy pizza, donuts, other assorted bakery items, a...