BW Gas & Convenience Holdings LLC/Yesway, Allsup's

Established in 2015, Yesway is a multi-branded platform based in Fort Worth, Texas. It operates 428 stores in Texas, New Mexico, South Dakota, Iowa, Kansas, Missouri, Wyoming, Oklahoma and Nebraska. The company operates its portfolio primarily under two brands, Yesway and Allsup's, with the chains' geographic footprints consisting of stores located in rural and suburban markets across the Midwest and Southwest.

The fast-growing convenience store chain said that it raised $190 million in new equity in the second half of 2022 to continue funding its successful new store construction program. Most of the structured equity comes from New York-based HPS Investment Partners, a leading global investment firm with $95 billion of assets under management.

In the past year, Yesway continued an aggressive campaign to grow its store count and financial performance through the completion of new stores and raze-and-rebuild projects across its portfolio and geographic footprint. It had announced plans to complete all scheduled projects and add an additional 28. In 2022, Yesway completed the construction of 17 new stores and 21 raze-and-rebuild projects, while also acquiring nine locations from San Angelo, Texas-based Tres Amigos Convenience Stores. For 2024, the Yesway officials said they would expand its presence in Oklahoma. The company, which also owns the Allsup's c-store brand, expects its portfolio of stores in the Sooner State to stand at 15 locations by the end of 2024.

Yesway skyrocketed its growth in 2019 when it acquired Clovis, New Mexico-based Allsup's and its 304 stores in Texas, New Mexico and Oklahoma, catapulting the chain into the 2020 top 20 of CSP's list.

Yesway is owned by BW Gas & Convenience Holdings, Fort Worth, Texas, which joined the convenience-store industry in late 2015 with ambitions of operating up to 1,000 stores. The company is an affiliate of Beverly, Massachusetts-based Brookwood Financial Partners, a real-estate and private-equity investment and asset management company with more than $2.6 billion in holdings.

For benchmarking purposes, store counts are as of Jan. 1, 2024.