Gas-station and pizza convenience store chain Casey’s just expanded with the acquisition of the 16-store convenience store chain ASAP Energy, a firm based in Weatherford. The ASAP store signs will soon be removed and replaced with the name Casey’s.
Owners Rick and Sheila Koch announced the sale in an online posting, a sale that ends their running of the chain for 47 years.
“As we look toward the future, one of our foremost priorities has always been considering everyone who has contributed to the success of ASAP Energy,” the Kochs wrote. “We want to continue providing quality service to our customers while also ensuring good jobs and opportunities for our employees.”
They wrote that Casey’s will provide ASAP employees with more opportunities for professional growth, more resources, and more possibilities for long-term success. They noted that Casey’s, founded in Iowa in 1968, also has deep roots in small communities with about two-thirds of its stores located in small-town America.
“Casey’s is a company where people can build long, rewarding careers, and we see this as an incredible opportunity for our Team members to grow alongside a thriving brand,” the Kochs wrote. “Casey’s has grown to become the third-largest convenience retailer and fifth-largest pizza chain in the nation.”
The sales price was not disclosed but it marks another expansion for Casey’s which acquired all of the state’s 49 Circle K locations in 2021 in a $39 million deal, according to The Oklahoman.
Casey’s is considered to be the fifth largest pizza chain in the U.S. and has 2,900 stores in 19 states. Its first store opened in 1968 in Boone, Iowa. Its quarterly earnings report earlier this month showed a nearly 28% increase in its diluted earnings per share and net income was $273.7 million or 27% more than a year earlier. Casey’s EBITDA totaled $485.1 million with a gain of 17% from the prior year.
