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Casey’S Announces Agreement To Acquire 40 Convenience Stores In Tennessee And Kentucky

Sep 28, 2021about 4 years ago

Acquiring Company

Casey's General Stores

Acquired Company

Convenience Stores

AnkenyGroceryHospitalityFood And BeverageRetail

Description

Casey’s General Stores, Inc. (“Casey’s” or the “Company”) (Nasdaq: CASY), a leading convenience store chain in the United States, today announced an agreement to acquire 40 Pilot convenience stores from Pilot Corporation in an all-cash transaction for $220 million.

Company Information

Company

Casey's General Stores

Location

Ankeny, Iowa, United States

About

Casey's General Stores Inc. is a leading convenience-store chain in the Midwest. The company offers a wide range of products including groceries, fuel, and prepared food. It is known for its commitment to community involvement and customer service. Recently, Casey's has focused on growth through acquisitions.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed