Maverik to acquire Kum & Go’s more than 400 stores
- Maverik — Adventure’s First Stop has agreed to acquire Kum & Go.
- Family-owned Kum & Go has about 400 locations across the Midwest; Maverik has about 380 stores in the western U.S.
- Financial details of the acquisition were not disclosed.
Maverik — Adventure’s First Stop and its parent company FJ Management have entered an agreement to purchase c-store chain Kum & Go. Financial details of the transaction were not disclosed. The news of the sale is unsurprising, as Kum & Go’s owners had reportedly mulled over selling the family-owned chain earlier this year.
According to an April 21 release, Maverik will purchase all of Kum & Go’s more than 400 locations from Krause Group. Maverik will also acquire Solar Transport, Krause Group’s tank truck carrier and logistics provider company, the release said. Maverik presently operates more than 380 locations across 12 western states.
“Kum & Go has always been driven by a desire to innovate, grow and serve our customers, our communities and our people,” said Kyle Kause, president and CEO of Krause Group, in the release. “Maverik has built its business in the same way and is ideally positioned to lead the next chapter of growth for Kum & Go.”
Kum & Go operates its c-stores in more than a dozen states in the Midwest. It was founded in Iowa by Bill Krause and Tony Gentle in 1959. The business is helmed by CEO Tanner Krause, who assumed the position from his father in 2021.
“We have long admired the Kum & Go brand,” said Chuck Maggelet, president and chief adventure guide of Maverik, in the release. “Kyle 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.”
The companies expect the transaction to close in the coming months.