Casey’s Closes Acquisition of 40 Pilot Stores

Rhea-AI Summary

Casey’s General Stores (Nasdaq: CASY) announced the completion of its acquisition of 40 convenience stores from Pilot Corporation, enhancing its presence in Knoxville, Tennessee. This aligns with Casey’s strategic plan to add 345 stores by 2023. CEO Darren Rebelez expressed optimism about expanding the company’s footprint and introducing its hand-made pizza program to the new locations. The acquisition is part of Casey’s growth strategy, aiming to leverage its market position in the competitive convenience store sector.

Positive

• Acquisition of 40 stores enhances immediate scale in Knoxville market.
• Supports three-year goal of adding 345 stores to the chain.
• Expansion in Tennessee and Kentucky markets boosts regional presence.

Negative

• None.

ANKENY, Iowa--(BUSINESS WIRE)-- Casey’s General Stores, Inc. (“Casey’s” or the “Company”) (Nasdaq: CASY), a leading convenience store chain in the United States, today announced the closing of the previously announced acquisition of 40 stores from Pilot Corporation. The acquisition gives Casey’s immediate scale in the attractive Knoxville, Tennessee market and is part of the implementation of its three-year strategic plan that was shared in January 2020 when the Company set a three-year goal of adding 345 stores to its chain.

“We are pleased to complete this transaction and expand our footprint in Tennessee and Kentucky,” said Darren Rebelez, president and Chief Executive Officer of Casey’s. “The Haslam family and the Pilot team have been great to work with and we look forward to welcoming team members to Casey’s and bringing our hand-made pizza program to these excellent stores.”

About Casey’s General Stores

Casey’s is a Fortune 500 company (NASDAQ: CASY) operating over 2,400 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211216006105/en/

Investor Relations Contact:

Brian Johnson (515) 965-6587

Brian.johnson@caseys.com

Media Relations Contact:

Katie Petru (515) 446-6772

Katie.petru@caseys.com

Source: Casey’s General Stores

FAQ

What was announced by Casey's General Stores on the acquisition of Pilot Corporation stores?

Casey’s announced the completion of the acquisition of 40 stores from Pilot Corporation, enhancing its footprint in Tennessee.

How does the acquisition impact Casey's growth strategy?

The acquisition is part of Casey's strategic plan to add 345 stores by 2023, increasing its market presence.

What are the expected benefits of the acquisition for Casey's?

The acquisition allows Casey’s to scale up operations in Knoxville and introduce its hand-made pizza program, potentially increasing revenue.

When was the acquisition of Pilot Corporation stores completed?

The acquisition was completed as announced in the press release with a focus on strategic growth.