Maverik – Adventure’s First Stop, together with its parent company, FJ Management, announced Friday the acquisition of Kum & Go, a family-owned convenience store chain with more than 400 locations across 13 states, from Krause Group.
As part of the transaction, Maverik will also acquire Solar Transport, a tank truck carrier and logistic provider owned by the Krause Group. Financial terms were not disclosed.
The combination of Maverik and Kum & Go creates a convenience store operator across the Midwest and Rocky Mountain regions with a differentiated value proposition across fuel, food service and inside store offerings. Current Kum & Go locations include Okoboji, Spirit Lake and Adrian.
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."
The transaction is expected to close in the coming months and is subject to customary closing provisions.
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