SPRINGFIELD, Mo. -- As reported in a CSP Daily News Flash on Friday, Cody's Convenience Stores has acquired six Express Lane stores for $1 million. Cody's began operating the stores in late September under a temporary agreement, Curtis Jared told The Springfield Business Journal. He is executive vice president for Jared Enterprises Inc., parent company of Cody's.
Cody's, which was founded five years ago with a single store in Rogersville, Mo., has grown through acquisitions and new construction, said the report.
Last month's deal makes Cody's the second-largest owner of convenience [image-nocss] stores in southwest Missouri, according to newspaper. With the purchase, which closed in bankruptcy court December 28, Cody's surpassed fellow Springfield-based chain Rapid Roberts' 23 area stores. Cody's portfolio now comprises 25 stores, second to West Des Moines, Iowa-based Kum & Go's 33 stores in southwest Missouri.
It has locations in Bolivar, Fair Grove, Hollister, Joplin, Monett, Nixa, Rogersville, Springfield and Waynesville, Mo., among others.
The company did not respond to CSP Daily News inquiries by presstime.
Express Lane parent company Waddill's Markets Inc., also based in Springfield, filed for Chapter 11 bankruptcy protection in July, according to U.S. Bankruptcy Court filings cited by the paper.
The company operates a total of nine Express Lane c-stores, located in Springfield, Republic, Nixa and Clever, Mo.
In the court documents cited by The Springfield News-Ledger, Waddill's Markets reported that it owed more than $3.8 million to its creditors, including $1.9 million in unsecured claims.
Meanwhile, Jared continues to have ambitious expansion plans. He said his company plans to eventually have a Cody's in every town in southwest Missouri, he told the paper last year. At the time, several stores were under construction or in the planning stages, according to the report. The company also acquired an Icenhower's market in Fair Grove, No., and turned it into a Cody's. Plans there include building a new store in 2008.
The company was also slated to open its first travel center, off of U.S. 65. In addition to a 10,000-sq.-ft. expanded service store, the store will have larger restrooms and a seating area, Internet access and other amenities for truckers, Jared said. Outside will be nine diesel bays in back for large vehicles, 16 regular filling positions, a car wash and dump stations for RVs and buses.
The Cody's stores feature an espresso bar. All food—including sandwiches—will be prepared in the store's kitchen at least twice a day. The breakfast menu includes Krispy Kreme donuts, bagels, cinnamon rolls, breakfast sandwiches and breakfast pizzas. During the day, a variety of hot dogs and bratwurst will be available, along with soups, personal pizzas, nachos, burritos, hamburgers, cheeseburgers and make-your-own tacos. It also offers an automatic DVD-rental machine.
Jared, 28, the grandson of Consumers Markets founder Clarence Wheeler, lists eight stores in Springfield that are open, under construction or in the planning stages, according to the report. A day after the latest opening, the company announced more expansion with the change of Icenhower's market in Fair Grove into a Cody's. Plans there include building a new store in 2008.
The company's first travel center will open off of U.S. 65. In addition to a 10,000-sq.-ft. expanded service store, the store will have larger restrooms and a seating area, Internet access and other amenities for truckers, Jared said. Outside will be nine diesel bays in back for large vehicles, 16 regular filling positions, a car wash and dump stations for RVs and buses.
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