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Kum & Go officially sold to Salt Lake City-based corporation

Kum & Go officially sold to Salt Lake City-based corporation
PEPPER LAURA LAURA STACY COME AND GO WAS FOUNDED RIGHT HERE IN IOWA. SINCE THEN IT HAS STAYED IN IOWA BASED CORPORATION BUT NOW NEW OWNERS ARE STEPPING IN. FOUNDER IN HAMPTON MORE THAN 60 YEARS AGO HAS GROWN INTO 400 STORES ACROSS 13 STATES. THE IOWA SUCCESS STORY, NOT THE HAWKEYE STATES, TO CLAIM ANYMORE. WE CLOSE THE TRANSACTION TODAY. THIS IS CHUCK MCGLYNN. HE RUNS MAVERICK, ANOTHER CONVENIENCE STORE CHAIN BASED IN UTAH. AND NOW HE’S RUNNING COME AND GO STORES ACROSS THE COUNTRY. HE I’M THE CEO OF MAVERICK. I’M LIKE, I GUESS I’M ALSO THE CEO OF COME AND GO NOW, TOO. I HAVEN’T THOUGHT ABOUT IT THAT WAY. THE DEAL COMBINING THE EQUALLY SIZED CHAINS INTO ONE MASSIVE ONE. WE DOUBLE IN SIZE TODAY FROM WHERE WE WERE YESTERDAY GOING FORWARD, THE COME AND GO BRAND WILL STAY. FOR NOW. WE’RE GOING TO BE REBRANDING ABOUT A THIRD OF THE STORES WHERE MAVERICK IS STRONGER. SO THE COLORADO, WYOMING AND UTAH IS WHERE WE’RE FOCUSED IDAHO TO AND AND WE’LL SEE HOW THAT GOES. BUT THEY’RE IOWA CONNECTIONS WILL LOOSEN, MOVING FROM LOCAL OWNERSHIP TO MANAGING THE MIDWESTERN REGION. WE’LL HAVE A BASE, A BASE CAMP, DES MOINES HERE, HICH CONSIDER A REGIONAL HEADQUARTERS TO SUPPORT THE STORES ON THE MIDWESTERN PART OF WHAT WILL BE OUR TERRITORY. THE FORMER OWNERS, THE KRAUSE GROUP, SAY THEY’RE STILL OPERATING IN DES MOINES. EVEN THOUGH THE STORE THAT STARTED IT ALL ISN’T THEIRS ANYMORE. BUT THE IMPACT OF ITS TIME HERE WILL LIVE ON. I GIVE MR. KRAUSS BIG PROPS FOR STARTING AND BRINGING COME AND GO TO IOWA AND THE STATE OF IOWA. I THINK THAT HE’S DONE A GREAT JOB. THE KRAUSS GROUP SAYS THEY ARE STAYING AT THEIR LOCATION HERE IN DES MOINES AND THE KRAUSS GATEWAY CENTER. SO THAT NEW REGIONAL LOCATION FOR COME AND GO WILL BE LOOKING FOR OFFICE SPACE IN THE CITY. LIVE AT THE KEOSAUQUA COME AND GO. I’M PEPP
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Updated: 6:04 AM CDT Sep 1, 2023
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Kum & Go officially sold to Salt Lake City-based corporation
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Updated: 6:04 AM CDT Sep 1, 2023
Editorial Standards
A popular Iowa convenience store chain has officially been sold.Kum & Go was purchased from the Krause Group by Maverik, a Salt Lake City-based company, on Tuesday, completing an acquisition that has been in the works for months.Maverik also acquired Solar Transport from the Krause Group in the deal. Solar Transport is a tank truck carrier and logistic provider. "I’m confident Kum & Go and Solar Transport are set up for future success with Maverik," Kyle Krause, the Krause Group founder and CEO, said in a release. "As we start the next chapter at Krause Group, we will nurture our family of brands and create more opportunities to do good in the world."Maverik also announced plans to donate $50,000 to the Des Moines Public Schools Foundation to provide food and toiletries at DMPS food pantries.In a news release, Maverik CEO Chuck Maggelet said the company plans to rebrand 120 to 140 existing Kum & Go stores in Utah, Idaho, Colorado and Wyoming. "Starting this January, we’ll be working to convert those stores to Maveriks," he said in the release.For the remaining two-thirds of Kum & Go stores, including the 100 locations in Iowa, he said: "Right now, we think we can bring a lot of what’s really good about Maverik into the Kum & Go world without necessarily rebranding and will continue to evaluate future changes."The Krause Group, which is based in Des Moines, said they will continue to focus on local real estate projects and launching a USL Championship professional soccer team. They have no current plans for acquisitions.

A popular Iowa convenience store chain has officially been sold.

Kum & Go was purchased from the Krause Group by Maverik, a Salt Lake City-based company, on Tuesday, completing an acquisition that has been in the works for months.

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Maverik also acquired Solar Transport from the Krause Group in the deal. Solar Transport is a tank truck carrier and logistic provider.

"I’m confident Kum & Go and Solar Transport are set up for future success with Maverik," Kyle Krause, the Krause Group founder and CEO, said in a release. "As we start the next chapter at Krause Group, we will nurture our family of brands and create more opportunities to do good in the world."

Maverik also announced plans to donate $50,000 to the Des Moines Public Schools Foundation to provide food and toiletries at DMPS food pantries.

In a news release, Maverik CEO Chuck Maggelet said the company plans to rebrand 120 to 140 existing Kum & Go stores in Utah, Idaho, Colorado and Wyoming.

"Starting this January, we’ll be working to convert those stores to Maveriks," he said in the release.

For the remaining two-thirds of Kum & Go stores, including the 100 locations in Iowa, he said: "Right now, we think we can bring a lot of what’s really good about Maverik into the Kum & Go world without necessarily rebranding and will continue to evaluate future changes."

The Krause Group, which is based in Des Moines, said they will continue to focus on local real estate projects and launching a USL Championship professional soccer team. They have no current plans for acquisitions.