Casey's To Acquire 40 Pilot Convenience Stores For $220M

by Shivani Kumaresan, Benzinga Staff Writer

September 28, 2021 2:58 PM | 1 min read |

Casey's General Stores Inc CASY has agreed to acquire 40 Pilot convenience stores from Pilot Corporation in an all-cash transaction for $220 million.
Casey's expects the deal to expand its presence in Tennessee and Kentucky.
"These stores have a track record of strong performance, and are high-quality assets that will be a great fit for Casey's fresh food program, especially our handmade pizza," said CEO Darren Rebelez.
Casey's to fund the transaction with cash on hand and bank financing. It held $198.9 million in cash and equivalents as of July 31, 2021.
Price Action: CASY shares are trading lower by 0.04% at $190.87 on the last check Tuesday.

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.