Casey’s General Stores, Inc. one of the leading convenience store chains in the United States, today announced an agreement to acquire Fikes Wholesale, Inc, owner of CEFCO Convenience Stores, in an all-cash transaction for $1.145 billion.
Fikes Wholesale, Inc. and CEFCO Convenience Stores began as a single “filling station” in Cameron, Texas in 1952 and has grown to be a respected operator with stores in multiple states. Casey’s acquisition of Fikes will include 198 retail stores and a dealer network.
The proposed transaction will increase Casey’s footprint to nearly 2,900 stores. 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. In addition to the retail stores and dealer locations, the transaction includes a fuel terminal and a commissary to support the Texas stores.
Full story Casey’s - Casey's Announces Agreement to Acquire 198 CEFCO Convenience Stores (caseys.com)
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