ANKENY, Iowa — As part of its strategic expansion plan, Casey’s General Stores Inc. has closed on the acquisition of Buchanan Energy, owner of Bucky’s Convenience Stores.
The acquisition deepens Casey’s Midwest presence, especially in Nebraska and Illinois. The transaction included 94 retail convenience stores and 79 dealer locations, as well as multiple parcels of real estate for future new-store construction, which will increase Casey’s footprint of owned and operated stores by 4% to more than 2,300 stores.
The acquisition marks the most significant transaction in the retailer’s 52-year history, the company said. It is part of the implementation of its three-year strategic plan that Casey’s in January 2020 when it set a three-year goal of adding 345 stores to its chain.
Casey’s will divest six stores as part of the consent order the company agreed to with the Federal Trade Commission (FTC), which will not materially alter the expected financial impact of the transaction, said the company. Casey's is selling the units—three Casey’s outlets and three Bucky’s outlets—to Western Oil II LLC, Valentine, Neb.
“We are pleased to complete this transaction and welcome the Bucky’s team to the Casey’s family,” said Darren Rebelez, president and CEO of Casey’s. “Steve Buchanan and his team have built up an extremely successful business, and Casey’s is excited to bring our hand-made pizza program to these well-located, high-volume stores.
Buck’s Intermediate Holdings, or Buchanan Energy, is a family-owned chain of fuel outlets and c-stores based in Omaha, Neb. The company operated 56 Bucky's locations in Illinois and 26 in Nebraska, as well as five in Iowa, four in Texas and three in Missouri.
- Casey's is No. 4 on CSP’s Top 40 Update to the2020 Top 202 ranking of c-store chains by number of company-owned retail outlets. Buchanan Energy is No. 74.
Based in Ankeny, Iowa, Casey’s operates retail fuel outlets and convenience stores in 16 Midwestern states, primarily Iowa, Missouri and Illinois.
Members help make our journalism possible. Become a CSP member today and unlock exclusive benefits, including unlimited access to all of our content. Sign up here.