Casey's To Acquire 40 Pilot Convenience Stores For $220M

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  • Casey's General Stores Inc CASY has agreed to acquire 40 Pilot convenience stores from Pilot Corporation in an all-cash transaction for $220 million.
  • Casey's expects the deal to expand its presence in Tennessee and Kentucky.
  • "These stores have a track record of strong performance, and are high-quality assets that will be a great fit for Casey's fresh food program, especially our handmade pizza," said CEO Darren Rebelez.
  • Casey's to fund the transaction with cash on hand and bank financing. It held $198.9 million in cash and equivalents as of July 31, 2021.
  • Price Action: CASY shares are trading lower by 0.04% at $190.87 on the last check Tuesday.
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