ANKENY, Iowa – Convenience store chain Casey’s General Stores, Inc. has announced an agreement to acquire 40 Pilot convenience stores from Pilot Corporation in an all-cash transaction for $220 million.
According to a news release from Casey’s, the 40 Pilot stores “will extend Casey’s presence in Tennessee and Kentucky with well-established locations primarily in the attractive Knoxville, Tennessee, market.”
Darren Rebelez, president and chief executive officer at Casey’s, said that the stores in the deal have a strong performance track record.
They are “high quality assets that will be a great fit for Casey’s fresh food program, especially our handmade pizza,” he added. “We look forward to carrying forward these Haslam family legacy stores and welcoming their team into the Casey’s family.”
Pilot Company Chairman Jimmy Haslam said that “Casey’s is a great convenience store chain that shares similar values as Pilot and we couldn’t be more excited for what they will bring to the community.”
“We are very thankful for the tremendous service our team members have provided and know they will be in great hands with Casey’s,” Haslam added. “Pilot and the Haslam family will always be committed to the Knoxville community, our philanthropic efforts and being a top employer in the region. The company will continue our intense focus on growing our core travel center network and energy businesses with significant investments in our people and our stores to provide the best team member and guest experience at our more than 800 locations across North America.”