Washington Kum & Go to be purchased by Casey's General Stores

In a June 3rd, 2011 announcement from Casey's, the 22 stores will be immediately rebranded as Casey's once the sale is complete. Casey's General Store is a publicly traded company that fought off a hostile takeover bid in 2010. Shares were up slightly today to $39.74 based on the news of the Kum & Go deal last Friday.

Casey's already has an existing location in Washington on Hwy 92 on the west side of town that was built in 1991 on 0.93 acres.

Kum & Go President, Kyle J. Krause indicated that the proceeds from the sale of the 22 stores "will be reinvested in Kum & Go's 400+ remaining stores and used to drive the company's long-term business and growth strategies."

In 2009, Kum & Go built a 5,000 s.f. convenience and fuel store in Riverside, Iowa on the Northwest corner of the Hwy 22 interchange with US Hwy. 218 (Ave. of the Saints). This new, 3.5 acre location has a value of over $1.4 million, while the smaller, one-third acre Washington downtown site is assessed at just over $150,000.

The 22 Kum & Go stores that are part of the deal with Casey's include locations in:

1. ARMSTRONG

2. ATLANTIC

3. BRITT

4. BROOKLYN

5. CARROLL

6. CEDAR FALLS

7. CENTERVILLE

8. CENTERVILLE

9. CHARITON

10. CHEROKEE

11. CHEROKEE

12. ELK RUN HEIGHTS

13. ESTHERVILLE

14. ESTHERVILLE

15. GARNER

16. IOWA FALLS

17. MEDIAPOLIS

18. SHELDON

19. SHELDON

20. ST. CHARLES

21. STORM LAKE