Kum & Go, a widely recognized convenience store brand in Iowa, has been sold. And that means its 5,000 employees will have a new owner in the next few months.Maverik has purchased the family-owned Kum & Go chain, which has 400 locations across 13 states, according to a news release. The price of the sale has not been announced.As part of the transaction, Salt Lake City-based Maverik will also acquire Solar Transport, a tank truck carrier and logistic provider owned by the Krause Group, according to a news release.The transaction is expected to close in the coming months.Previous reporting:The news release says Maverik and Kum & Go will create a “best-in-class convenience store operator across the Midwest and Rocky Mountain regions with a differentiated value proposition across fuel, food service and inside store offerings.”In a statement, Chuck Maggelet, president and chief adventure guide of Maverik, said, “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.”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.”Kyle Krause, Krause Group president and CEO, added, “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. 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.”Maverik has more than 380 locations across 12 western states. Maverik sells exclusive products such as fresh-made, gourmet burritos, sandwiches, pizzas, toasted subs, cookies, and coffee blends from around the world, according to its website.Kum & Go, headquartered in Des Moines, was founded in Hampton, Iowa, in 1959 by William A. Krause and Tony S. Gentle.Des Moines City Manager Scott Sanders sent this statement to KCCI regarding the sale:”The Krause Family and their Kum & Go convenience stores have a storied history in Des Moines and across Iowa. Their business success has been matched only by their culture of philanthropy with communities and organizations throughout the Midwest. “While we’re disheartened about news of this proposed sale, we’re encouraged that Krause+ and Pro Iowa renewed their commitment today with the City of Des Moines to develop a professional soccer stadium, entertainment district and global plaza south of downtown near the former Dico site. We look forward to working with them as a strong community partner to finalize the details of this important and exciting addition to our city.”
Kum & Go, a widely recognized convenience store brand in Iowa, has been sold. And that means its 5,000 employees will have a new owner in the next few months.
Maverik has purchased the family-owned Kum & Go chain, which has 400 locations across 13 states, according to a news release. The price of the sale has not been announced.
As part of the transaction, Salt Lake City-based Maverik will also acquire Solar Transport, a tank truck carrier and logistic provider owned by the Krause Group, according to a news release.
The transaction is expected to close in the coming months.
Previous reporting:
The news release says Maverik and Kum & Go will create a “best-in-class convenience store operator across the Midwest and Rocky Mountain regions with a differentiated value proposition across fuel, food service and inside store offerings.”
In a statement, Chuck Maggelet, president and chief adventure guide of Maverik, said, “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.
“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.”
Kyle Krause, Krause Group president and CEO, added, “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. 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.”
Maverik has more than 380 locations across 12 western states. Maverik sells exclusive products such as fresh-made, gourmet burritos, sandwiches, pizzas, toasted subs, cookies, and coffee blends from around the world, according to its website.
Kum & Go, headquartered in Des Moines, was founded in Hampton, Iowa, in 1959 by William A. Krause and Tony S. Gentle.
Des Moines City Manager Scott Sanders sent this statement to KCCI regarding the sale:
“The Krause Family and their Kum & Go convenience stores have a storied history in Des Moines and across Iowa. Their business success has been matched only by their culture of philanthropy with communities and organizations throughout the Midwest.
“While we’re disheartened about news of this proposed sale, we’re encouraged that Krause+ and Pro Iowa renewed their commitment today with the City of Des Moines to develop a professional soccer stadium, entertainment district and global plaza south of downtown near the former Dico site. We look forward to working with them as a strong community partner to finalize the details of this important and exciting addition to our city.”
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