Caseys General Stores, Inc. · NASDAQ:CASY
Caseys General Stores — Merger or Acquisition (November 2020)
8 slides from Caseys General Stores's merger presentation, Nov 9, 2020
Slide 1: Casey's Acquisition of Bucky's Convenience Stores
Casey’s Acquisition of Bucky’s Convenience stores November 9, 2020
Slide 2: Safe harbor statements
Safe harbor statements This presentation is dated as of November 9, 2020 and speaks as of that date. Forward-Looking StatementsThis presentation contains statements that may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forwar
Slide 3: Our Strategy
Our Strategy As shown on January 2020 Investor Day Reinvent the Guest ExperienceContemporize our food proposition, optimize & localize assortment, and deliver compelling experiences Invest in Our Talent Create a culture that drives performance and exceeds guests’ expectations Accelerate Unit GrowthA
Slide 4: Transaction Overview
TRANSACTION OVERVIEW Casey’s General Stores to acquire Buchanan Energy for $580 million in an all-cash transactionIncludes tax benefits valued at $80 million for a net after-tax purchase price of $500 millionBucky’s operates convenience stores primarily in Illinois and Nebraska94 owned retail store
Slide 5: Overview of Bucky's Convenience Stores
Overview of Bucky’s Convenience Stores 1 Based on LTM July-2020. Includes estimated June and July 2020 dealer gallons. Family operated convenience store chain founded in 1980 Store network consists of company-owned stores and dealer-operated storesPrimary operating categories include fuel, grocery a
Slide 6: Bucky's Store Network
BUCKY’S STORE NETWORK Note: Bucky’s sales mix LTM Jul-20; Casey’s sales mix FYE Apr-20. Avg. store format of ~3,000 sq. ft. Grab-and-go and ready-to-eat food offeringsFull kitchens included at new store locationsAutomated car wash at ~90% of stores Retail Store Markets Bucky’s Inside Sales Mix:Oppor
Slide 7: Compelling Synergy Opportunity
COMPELLING SYNERGY OPPORTUNITY ~$23mm in Pre-Tax Synergy by Year Three Merchandise Profitability Retail Fuel Profitability Operations / SG&A Store Upgrades Leverage Casey’s scaleFuel procurement opportunities More sophisticated merchandisingGrow Casey’s Rewards membersAdd Casey’s new private label b
Slide 8: Financial Impact
FINANCIAL IMPACT Operational Scale Store count increase by 4% to over 2,300 storesAnnual fuel gallons increase of 10%Inside Sales increase of 4%Trailing twelve-month EBITDA $47 million pre synergies Synergy & Accretion Delivers run rate synergies in excess of $23mm by year threeEBITDA accretive by Q
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