Casey's General Stores, Inc. has agreed to buy Fikes Wholesale, Inc. for about $1.15 billion, in a move that will expand its presence in the hot Sunbelt market.
The deal will expand Casey's portfolio by 198 stores to bring its total count to almost 2,900, the convenience chain announced. Plus, it will get a dealer network. All the brick-and-mortar locations are located in the Sunbelt market, with a big chunk (148) in Texas alone. The remaining 50 stores have presences in Mississippi, Florida, and Alabama.
The deal will also give the Texas locations support with fuel terminals and commissaries. Fikes owns the brand CEFCO Convenience Stores.
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