Just days after publicly rejecting Alimentation Couche-Tard’s unsolicited bid, Akron, Iowa-based Casey’s General Stores Inc. announced that it will be the one making an acquisition.
Casey’s is purchasing 10 Holiday Stationstore convenience stores in Nebraska and Iowa, Bill Walljasper, senior vice president and CFO of Casey’s told the Omaha World Herald.
Casey’s, which operates 1,500 stores in the Midwest, plans to finalize the purchase agreement April 19. Holiday wanted to sell the 10 stores in Iowa and Nebraska as a package. The Nebraska stores are located in Columbus, Grand Island (two), Kearney, Norfolk and Omaha, while the Iowa stores are in Denison, Spencer and Waterloo (two).
Holiday Stationstores operates more than 300 corporate stores and over 100 franchise stores in 12 states in the northern tier region of the U.S. and Alaska.
“We evaluated all 10 of the locations and their performances,” Walljasper said. “They seemed to fit the demographics of a Casey’s community. We felt that purchasing them was a good, strategic fit for the company.”