WEST DES MOINES, Iowa -- Convenience-store retailer Yesway has acquired 13 Chisum Travel Center and Fast Stop convenience stores in Texas. The Chisum portfolio is the second of three major Yesway portfolio acquisitions scheduled for this quarter, the company said.
The company said it expects its portfolio to grow to 150 stores within the next four to six weeks with the additional stores it currently has under contract to acquire, putting it on track to reach its goal of building a 500-location chain over the next several years.
This acquisition further expands the company's presence in the state, where Yesway now owns and operates 52 stores. Two of the stores are in Lubbock, further expanding the company's footprint in northwestern Texas, with other single-store locations in Amarillo, Friona, Dimmit, Littlefield, Shallowater, Olton, Hart, Brownfield, Floydada, Ropesville and Iowa Park.
Yesway's portfolio now totals 116 stores in Iowa, Missouri, Kansas, Oklahoma and Texas.
The chain recently celebrated the grand opening of 35 newly remodeled convenience stores in Texas with a multicity "Yesway Grand Opening Event Tour."
"We have always been attracted to the Texas market and continue to evaluate numerous portfolios and individual store acquisitions in the state," said Thomas Brown, Yesway's director of acquisitions. "The Texas economy is strong, and companies like ours benefit greatly from the state's low taxes, highly-supportive business environment and positive demographic trends. Our goal is to expand our Texas portfolio to well over 100 stores in the coming years."
BW Gas & Convenience, doing business as Yesway, is based in West Des Moines, Iowa. The company is an affiliate of Beverly, Mass.-based Brookwood Financial Partners, a real-estate and private-equity investment and asset management company with more than $2.2 billion in holdings.
Photo courtesy of Yesway.