Casey's General Stores to acquire 11 Minnesota convenience stores

Casey's General Stores Inc. will acquire 11 convenience stores in Southern Minnesota, the company announced Tuesday, Feb. 15.

The stores will be acquired from NuWay Cooperative of Trimont, Minn., the company said. All of the stores will immediately be changed to the Casey's brand.

Casey's expects the acquisition to affect earnings positively, and to further improve earnings after Casey's adds its prepared foods program to the stores.

"These are well maintained locations that fit perfectly with the company's business model of operating in smaller rural communities and further strengthens our existing market presence in southern Minnesota," said Robert Myers, president and CEO of Ankeny-based Casey's.

The terms of the transaction, expected to close during the company's fourth fiscal quarter, were not disclosed. Casey's said it will be funded with existing cash and operating cash flow.