Convenience-store retailer Maverik's acquisition of Kum & Go has helped it gain access to a new customer base, doubling its existing Rocky Mountain customer base across the Midwest.
Maverik acquired Kum & Go, a family-owned convenience-store chain with more than 400 locations across 13 states, from Krause Group in April for an estimated $2 billion.
Salt Lake City-based Maverik has approximately 400 locations and growing across 13 western states, making it the largest independent fuel marketer in the Intermountain West. Locations include Arizona, California, Colorado, Idaho, Nebraska, Montana, Nevada, New Mexico, Oregon, South Dakota, Utah, Washington and Wyoming. The acquisition doubled Maverik’s footprint and gave it a foothold in eight additional states.
The combination of Maverik and Kum & Go creates a best-in-class convenience store operator across the Midwest and Rocky Mountain regions with a differentiated value proposition across fuel, foodservice and inside store offerings, the companies said.
To see how Kum & Go’s acquisition stands to broaden Maverik’s demographic reach, Santa Cruz, California-based foot traffic analytics firm Placer.ai analyzed the two chains’ captured markets—the population residing in its trade area, weighted to reflect the actual share of visits from each Census Block Group comprising the trade area—using geosocial data from Spatial.ai’s PersonaLive.
By acquiring Kum & Go, Maverik is gaining access to a new customer base, presenting the company both with new challenges and with the exciting opportunity to grow and diversify its audience.
In the first three months of the first half of 2023, Kum & Go shoppers were more likely to come from less-affluent rural and small-town households, while Maverik customers were more likely to be wealthy or upper-middle-class suburbanites. This very different positioning may be a product of Maverik’s unique recreational slant and may also stem from the two chains’ varying geographical placements.
“We have long admired the Kum & Go brand,” said Chuck Maggelet, president and “chief adventure guide” at Maverik. “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. We look forward to welcoming Kum & Go and Solar Transport associates and stores to Maverik–Adventure’s First Stop.”
Maverik—a brand that has positioned itself as a prime destination for people engaged in outdoor activities—emerged as the most popular c-store in Idaho, Wyoming and Utah in the first half of 2023, based on statewide visit shares.
The chain also had the second highest change in store visits from July 2023 to January 2023. July foot traffic was 70.6% higher than winter levels. Known for its “Adventure’s First Stop” slogan and action-themed decor, Maverik has carved out a niche as the perfect place to load up on supplies while conquering the great outdoors, the report said. And Maverik’s own-label BonFire food line makes the chain a prime refreshment stop for area residents as well as visitors to mountain-state attractions like Yellowstone National Park.
Buc-ee’s was the only c-store to have a wider difference, with 79.2% more foot traffic in summer than winter.
- Maverik is No. 21 on CSP's 2023 Top 202 list of the largest c-store chains in the country. Kum & Go is No. 22. Buc-ee's is No. 153.