SALT LAKE CITY, UT & DES MOINES, IA - When I used to live in Reno, Nevada, Maverik – Adventure’s First Stop was an essential pit stop for any busy commuter heading to work or adventure seeker making the trek into the mountains for a ski day. Now, the convenience chain is expanding its reach as it, alongside its parent company FJ Management, announced the acquisition of Kum & Go from Krause Group.

“We have long admired the Kum & Go brand. Kyle and Tanner, and the generations before them, have built an exceptional business that pairs quality with convenience and puts people first,” Chuck Maggelet, President and Chief Adventure Guide of Maverik –Adventure’s First Stop, said. “We are honored to carry their legacy forward as we build on Kum & Go’s strong operating and innovation capabilities and expand our adventurous convenience experience. We look forward to welcoming Kum & Go and Solar Transport associates and stores to Maverik – Adventure’s First Stop.”

No financial terms of the deal were disclosed; however, with this acquisition, Maverik will acquire Kum & Go’s 400 locations across 13 states, a release stated. As part of the transaction, the company will also acquire Solar Transport, a tank truck carrier and logistics provider owned by the Krause Group as well.

The combination of Maverik and Kum & Go will create a strong convenience store operator serving the Midwest and Rocky Mountain regions. The pair will provide a differentiated value proposition across fuel, foodservice, and in-store offerings.

“Kum & Go has always been driven by a desire to innovate, grow and serve our customers, our communities, and our people. Maverik has built its business in the same way and is ideally positioned to lead the next chapter of growth for Kum & Go,” commented Kyle Krause, Krause Group President and Chief Executive Officer. “We have much in common, and I look forward to welcoming Chuck’s leadership, his team, and Maverik to Des Moines, which will always be the home of the Krause Group and important to our future.”

The transaction is expected to close in the coming months and is subject to customary closing provisions.

“This is the most momentous day in the 63-year history of our family business. My family has worked for four generations to create and build Kum & Go into a business that has done an incredible amount of good for our people, for Iowa, and beyond,” added Tanner Krause, President and CEO of Kum & Go. “Serving as President for the past five years has been the fulfillment of my lifelong dream. I’ve had the pleasure of knowing Chuck Maggelet for years and hold a lot of respect for him as a person and a business leader. I’m confident the Maggelets and Maverik will be good stewards of Kum & Go’s people and culture for generations to come.”

What role will this acquisition play in the development of the C-store sector? Stick with AndNowUKnow for more updates.

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