Casey's Expands with Wow! Foodmart Acquisition
Deal News | Jan 15, 2025 | EIN
Casey's General Stores has expanded its retail presence by acquiring Wow! Foodmart and its retail assets, including one travel center, seven convenience stores, and four liquor stores in central Kentucky. This acquisition aligns with Casey's ongoing growth strategy in the convenience store segment, following its recent $1.145 billion deal to acquire Fikes Wholesale's CEFCO convenience stores. Downstream Energy Group provided exclusive M&A advisory services for the Wow! Foodmart acquisition, further reinforcing its role as a key player in mergers and acquisitions within the convenience store industry. Casey's, established over 50 years ago, is now the third-largest convenience store chain in the U.S.
Sectors
- Retail
- Mergers and Acquisitions
- Convenience Stores
Geography
- United States – Casey's operates across the U.S., with the acquisition taking place in central Kentucky.
- Kentucky – The specific geography of the transaction is central Kentucky, where Wow! Foodmart assets are located.
Industry
- Retail – The article discusses Casey's acquisition of retail assets from Wow! Foodmart, indicating its relevance to the Retail industry.
- Mergers and Acquisitions – Downstream Energy Group's advisory role in the acquisition highlights the involvement of firm specializing in M&A advisory.
- Convenience Stores – The article focuses on the acquisition and consolidation within the convenience store sector.
Financials
- $1.145 billion – The deal amount announced in July 2024 for Casey's acquisition of Fikes Wholesale, owner of 198 CEFCO convenience stores.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Casey's General Stores | Buyer | Company | Casey's is the third-largest convenience store chain in the United States. |
| Wow! Foodmart | Target company | Company | A retail chain with stores located in central Kentucky. |
| Downstream Energy Group | M&A Advisory | Company | An M&A advisory firm specializing in the convenience store and fuel distribution sectors. |
| NACS | Source | Company | Reported the statement from Downstream Energy Group regarding the acquisition. |