|
|
Ankeny,
IA – November 2024 / NewsmakerAlert: Casey’s
General Stores, Inc. (“Casey’s” or the “Company”) (Nasdaq: CASY), one
of the leading convenience store chains in the United States, has announced
the closing of the previously
announced acquisition of Fikes Wholesale (“Fikes”), owner of CEFCO
Convenience Stores (“CEFCO”), on November 1, 2024. The acquisition will
bring 148 additional stores to Texas, which is a highly strategic market
for Casey’s, as well as 50 stores in the southern states of Alabama, Florida,
and Mississippi. This acquisition brings the total store count to approximately
2,900 stores.
“This
acquisition is the largest in Casey’s history and in line with the strategic
plan laid out at the June 2023 Investor Day,” said Darren
Rebelez, Board Chair, President and Chief Executive Officer of Casey’s.
“We are thrilled to complete this transaction, welcome Fikes to the Casey’s
team, and look forward to bringing Casey’s pizza to these high-volume stores.”
Business
Update
Casey’s
expects the fuel margin for the second quarter ended, October 31, 2024,
to be approximately 40 cents per gallon.
About
Casey’s General Stores
Casey’s
is a Fortune 500 company (NASDAQ: CASY) operating over 2,900 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, and a wide selection of beverages and snacks. Learn more and
order online at www.Caseys.com, or
in the mobile app.
Forward-Looking
Statements
This
communication contains statements that may constitute “forward-looking
statements” within the meaning of the Private Securities Litigation Reform
Act of 1995, including those related to the potential impact of consummation
of the transaction on relationships with third parties, expectations for
future periods, possible or assumed future results of operations, financial
conditions, liquidity and related sources or needs, business and/or integration
strategies, plans and synergies, supply chain, growth opportunities, and
performance at the Company’s stores. There are a number of known and unknown
risks, uncertainties, and other factors that may cause the Company’s actual
results to differ materially from any results expressed or implied by these
forward-looking statements, including but not limited to the execution
of the Company’s strategic plan, the integration and financial performance
of acquired stores, wholesale fuel, inventory and ingredient costs, distribution
challenges and disruptions, the impact and duration of the conflict in
Ukraine or other geopolitical disruptions, as well as other risks, uncertainties
and factors which are described in the Company’s most recent annual report
on Form 10-K and quarterly reports on Form 10-Q, as filed with the Securities
and Exchange Commission and available on the Company’s website. Any forward-looking
statements contained in this communication represent our current views
as of the date of this communication with respect to future events, and
the Company disclaims any intention or obligation to update or revise any
forward-looking statements in this communication whether as a result of
new information, future events, or otherwise.
Media
Relations Contact:
Katie
Petru
515-446-6772
LinkedIn |
