C-Store Retailer Maverik Buys Kum & Go, Creating 800-Store Chain
Maverik — Adventure’s First Stop and its parent company FJ Group will purchase Kum & Go, which operates more than 400 convenience stores across 13 states, from current owner Krause Group. Financial terms of the acquisition, which is expected to close in the coming months, were not disclosed. As part of the deal, Maverik also is purchasing Solar Transport, a tank truck carrier and logistics provider, from Krause Group.
Maverik operates nearly 400 stores across 12 western states, while Kum & Go’s 400+ stores are located in 13 midwestern and western states.
“Kum & Go has always been driven by a desire to innovate, grow and serve our customers, our communities and our people,” said Kyle Krause, Krause Group President and CEO in a statement. “Maverik has built its business in the same way and is ideally positioned to lead the next chapter of growth for Kum & Go.”
Tanner Krause, President and CEO of Kum & Go, said in statement that “this is the most momentous day in the 63-year history of our family business. My family has worked for four generations to create and build Kum & Go into a business that has done an incredible amount of good for our people, for Iowa and beyond.”
“We have long admired the Kum & Go brand,” said Chuck Maggelet, President and Chief Adventure Guide of Maverik in a statement. “Kyle and Tanner, and the generations before them, have built an exceptional business that pairs quality with convenience and puts people first. We are honored to carry their legacy forward as we build on Kum & Go’s strong operating and innovation capabilities and expand our adventurous convenience experience.”