BW Gas & Convenience to acquire 21 convenience stores in US from Kum & Go
Private equity investment firm Brookwood Financial Partners affiliate BW Gas & Convenience has agreed to acquire 21 convenience stores in Iowa from US based convenience store chain Kum & Go.
The firm plans to acquire first three stores in Mason City this week followed by remaining 18 stores within the next four weeks.
After the completion of the acquisition, BW Gas & Convenience will own and operate 31 stores in Iowa. Financial terms of the deal were not disclosed.
The purchase is a part of BW Gas & Convenience’s effort to expand its business by acquiring between 600-1,000 convenience stores throughout the US over the next several years.
Meanwhile, BW Gas & Convenience has announced the launch of its national convenience store brand, Yesway in Des Moines.
In addition to offering expanded product assortment and enhanced food service, Yesway plans to upgrade and remodel its entire portfolio with an investment of approximately $6.7m to further improve the customer experience.
Yesway operations senior vice president Brian Trout said: “The new exterior and interior store design will enhance the overall appeal of the stores and enable us to offer a fresh experience for consumers in the Iowa region.”
Over the next several years, Yesway intends to acquire, improve and rebrand 600-1,000 convenience stores in selected regions of the US.
In June, Kum & Go launched new store in Springfield to complement its existing 37 stores in the region.
The company also plans to open four additional Springfield-area Marketplace stores in 2016.
Image: BW Gas & Convenience intends to expand business with the acquisition of convenience stores in Iowa. Photo: courtesy of stockimages/FreeDigitalPhotos.net.