Casey’s goal for fiscal-year 2019 is to build 60 new sites and acquire at least 20. In the first quarter, it opened 15 new-to-industry sites, bought one store and had 14 under agreement to buy. The chain has a land bank of 103 locations.
Casey’s has had “more conversations” related to acquisition opportunities, CFO Bill Walljasper said on the call. “We’re still a very prudent buyer, a very disciplined buyer, and we’re not going to necessarily go out and purchase budget stores to tell people we grew the units.”
That said, “People are willing to have conversations about selling their business,” he continued. “And so we’re encouraged by that, and certainly I think we’re in a good position to take advantage of those things.”
Ankeny, Iowa-based Casey’s General Stores has more than 2,000 c-stores in 15 mostly Midwestern states, located primarily in towns with populations of 5,000 or fewer people. The chain ranked No. 4 in a year-end update of CSP’s 2018 Top 202 list of the largest c-store chains in the United States.
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