Oskaloosa.com

September 12, 2012

Kum & Go to sell 22 Stores to Casey’s, local stores included


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.