Casey's (CASY) Set to Acquire 198 CEFCO Convenience Stores
CASYCasey’s(CASY) ZACKS·2024-07-30 00:56

Casey's General Stores, Inc. (CASY) has made a strategic move to strengthen its position in the market. The third-largest convenience store retailer and the fifth-largest pizza chain in the United States has entered a deal to acquire Fikes Wholesale, Inc., the owner of CEFCO Convenience Stores.The acquisition, valued at 1.145billioninanallcashtransaction,includestaxbenefitsworthapproximately1.145 billion in an all-cash transaction, includes tax benefits worth approximately 165 million, reducing the net after-tax purchase price to $980 million. This buyout involves 198 retail ...