Convenience stores operator Casey's to buy Fikes Wholesale for $1.15 billion (updated)
26/07/2024 13:32
(Adds details on the deal)
July 26 (Reuters) - Casey's General Stores CASY.O said
on Friday it would acquire Fikes Wholesale, owner of CEFCO
convenience stores, in an all-cash transaction for $1.15
billion.
Casey's acquisition of Fikes will include 198 retail stores
and a dealer network. It will increase Casey's footprint to
nearly 2,900 stores in the United States, the company said.
The company plans to finance the transaction through balance
sheet cash and bank financing, and expects the deal to close in
the fourth quarter.
(Reporting by Juveria Tabassum; Editing by Krishna Chandra
Eluri)
((Juveria.Tabassum@thomsonreuters.com;))