Casey's Acquires CEFCO: Rebrands TX Shops

Casey's General Stores snaps up nearly 200 CEFCO stores for $1.145 billion. https://www.barrons.com/articles/caseys-general-stock-acquisition-cefco-8db5ee05?refsec=markets&mod=topics_markets

The Midwest retailer is buying Fikes Wholesale Inc., owner of CEFCO, bringing 148 Texas locations under its banner, plus 50 more in Alabama, Florida, and Mississippi. CEO Darren Rebelez touts Texas as "a very attractive market." https://www.radioiowa.com/2024/07/26/caseys-announces-major-purchase-of-stores-in-texas-alabama-florida-mississippi/

"This acquisition will quickly expand Casey’s presence in Texas... In addition, we'll be able to expand our footprint further into the South." - Rebelez

Fikes/CEFCO president Raymond Smith calls the deal an "exciting development," citing Casey's reputation and shared values. https://www.radioiowa.com/2024/07/26/caseys-announces-major-purchase-of-stores-in-texas-alabama-florida-mississippi/

"I am happy that the CEFCO stores will join a top convenience retailer that will reinvest in the stores and eventually bring Casey’s pizza..." - Smith

Casey's plans to remodel CEFCO's kitchens for its famed pizza, and the deal includes CEFCO's fuel terminal. By 2025, Casey's will operate ~2,900 stores nationwide, including 170 in Texas.

This follows Casey's November '23 purchase of 22 Lone Star Food Stores in North Texas. Read more. As of July '24, it ranked as the fifth-largest US convenience store chain. https://www.scrapehero.com/location-reports/10-largest-convenience-stores-in-the-usa/