Maverik to acquire American convenience store chain Kum & Go

Maverik – Adventure’s First Stop, a fuel marketer in the Intermountain West, alongside its parent company FJ Management has agreed to acquire Kum & Go, an American convenience store chain, from Krause Group.

The financial terms of the deal were not revealed.

Kum & Go has more than 400 convenience stores across 13 US sites. Founded in 1959 in Hampton, Iowa, Kum & Go is a fourth-generation, family-owned business.

As part of the deal, Solar Transport, a tank truck carrier and logistic provider, will also be acquired by Maverik – Adventure’s First Stop from the Krause Group.

Tanner Krause — Kum & Go President and CEO said: “This is the most momentous day in the 63-year history of our family business. My family has worked for four generations to create and build Kum & Go into a business that has done an incredible amount of good for our people, for Iowa and beyond.”

Maverik – Adventure’s First Stop said that its combination with Kum & Go creates a leading convenience store operator across the Midwest and Rocky Mountain regions with a distinctive value proposition in foodservice, fuel, and in-store options.

Furthermore, the deal is said to bring together two convenience-retailers with nearly 160 years of combined experience.

It is also expected to improve the distinct capabilities of the two companies to offer an integrated product that spans more than 800 units across 20 states, which will meet the ever-changing needs of a wider customer base, both existing and potential customers.

The deal also helps in maintaining a strong market footprint in Des Moines and creates a platform to allow for growth and innovation in the future, said Maverik – Adventure’s First Stop.

Chuck Maggelet — Maverik – Adventure’s First Stop President and Chief Adventure Guide said: “We have long admired the Kum & Go brand. Kyle (Kyle Krause, Krause Group President and CEO) and Tanner, and the generations before them, have built an exceptional business that pairs quality with convenience and puts people first.

“We are honored to carry their legacy forward as we build on Kum & Go’s strong operating and innovation capabilities and expand our adventurous convenience experience. We look forward to welcoming Kum & Go and Solar Transport associates and stores to Maverik – Adventure’s First Stop.”

Subject to customary closing provisions, the deal is likely to be wrapped up in the coming months.