US c-store chain Casey’s General Stores has signed a deal to acquire 44 Kabredlo’s outlets.
The 44 convenience stores include 22 in Nebraska, 21 in Kansas and one in Oklahoma.
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“The acquisition of the Kabredlo’s locations is an excellent fit to our existing store base and will add to our presence in Nebraska and Kansas as well as allow us to penetrate a new state,” said Casey’s president and CEO Robert Myers.
Casey’s said that for the year to 30 June, the stores generated annual inside gross revenue of around $52m and sold around 36m gallons of fuel.
The deal will be financed by existing cash on hand and is expected to close by the end of December. It remains subject to certain regulatory approvals and other closing conditions. The value of the deal was not disclosed.
The convenience operator has been on an acquisition spree over the last month, entering agreements to acquire 19 outlets from Harper Oil Co., and six Short Stop outlets.
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By GlobalData
