Kum & Go, a longtime Iowa convenience store chain, has been sold

Kum & Go, the family-owned convenience store chain, has been sold

WELL, STACY AND SCOTT, THE BUYER IS A CONVENIENCE STORE NAMED MAVERICK. IT’S IN THE WESTERN UNITED STATES. BUT WE DON’T KNOW YET WHETHER THE NAME OF COME AND GO WILL CHANGE TO MAVERICK. COME AND GO. CONVENIENCE STORE CHAIN AND ITS 5000 EMPLOYEES WILL HAVE A NEW OWNER IN THE NEXT FEW MONTHS. UTAH BASED MAVERICK ANNOUNCED IT’S BUYING DES MOINES BASED COME AND GO CEO KYLE KRAUSE SAYS IN A STATEMENT. COME AND GO HAS ALWAYS BEEN DRIVEN BY A DESIRE TO INNOVATE, GROW AND SERVE OUR CUSTOMERS, OUR COMMUNITY AND OUR PEOPLE. MAVERICK HAS BUILT HIS BUSINESS IN THE SAME WAY AND IS IDEALLY POSITIONED TO LEAD THE NEXT CHAPTER OF GROWTH FOR COME AND GO. MAVERICK LIKE COME AND GO IS A FAMILY COMPANY BUILT AROUND ABOUT THE SAME AMOUNT OF TIME. AND THEY HAVE A LOT OF SIMILARITIES. A FOCUS ON FUN AND FRESH. JEFF LEONARD IS WITH THE NATIONAL ASSOCIATION OF CONVENIENCE STORES. HE SAYS MAVERICK HAS ABOUT 400 STORES, MOSTLY IN THE WESTERN UNITED STATES, COME AND GOES. 400 MIDWEST STORES WILL DOUBLE MAVERICK SIZE AND INCREASE ITS U.S. FOOTPRINT. IT’S ALL ABOUT GROWING BIGGER AND BETTER. THE IDEA IS HOW DO YOU GET BIGGER TO COMPETE? NOT ONLY WITHIN YOUR CHANNEL, NOT ONLY WITHIN OTHER CONVENIENCE STORES, BUT WITH EVERYBODY ELSE. THE COMPANY STATEMENT DID NOT LIST A SALE PRICE. EARLIER THIS YEAR, REUTERS NEWS SERVICE VALUE COME A GO AT NEARLY $2 BILLION. KRAUSE SAYS THE CORPORATE HEADQUARTERS WILL REMAIN DOWNTOWN. HE ALSO SAYS THE SALE WON’T CHANGE PLANS FOR A $550 MILLION DOWNTOWN SOCCER STADIUM DEVELOPMENT. IT’S NOT CLEAR HOW THE SALE WILL AFFECT COME AND GO EMPLOYEE. I THINK FANS OF COME AND GO. AND FANS OF MAVERICK CAN EXPECT TO SEE BUSINESS AT YOU AS USUAL FOR AT LEAST THE SHORT TERM, IF NOT THE LONGER TERM. NOW, ONE BIT OF TRIVIA. WE WERE TOLD THAT MAVERICK STORES WAS ACTUALLY NAMED AFTER THE OLD WESTERN TV SHOW MAVERICK, WHICH IS ON BACK IN THE FIFTIES AND THE SIXTIES, BUT DIFFERENT SPELLING. LIVE IN DES MOINES. TODD MAGEL ��vlog 8 NEWS. IOWA’S NEWS LEADER. ALL RIGHT, TODD, THANK YOU. KRAUS GROUP IS ALSO SELLING A COMPANY CALLED SOLAR TRANSPORT TWO MAVERICK SOLAR TRANSPORT IS A TANK TRUCK CARRIER THAT MOVES PETROLEUM. THE KRAUS FAMILY FOUNDED COME AND GO IN HAMPTON AND RAN IT FOR FOUR GENERATIONS. THE CEO, KYLE KRAUS, TWEETED THIS PICTURE SAYING HE’S PROUD OF THE CULTURE THEY BUILT. KRAUS GROUP ALSO OWNS SOCCER TEAMS, INCLUDING THE DES MOINES MENACE AND ALSO OWNS WINERIES IN ITALY. FAMILY OWNED FARMS IN SOUTH CENTRAL IOWA AND A REAL ESTATE BRANCH. THE REAL ESTATE BRANCH HANDLES BUILDING

Updated: 6:12 PM CDT Apr 21, 2023

Editorial Standards ⓘ

Kum & Go, the family-owned convenience store chain, has been sold

Updated: 6:12 PM CDT Apr 21, 2023

Editorial Standards ⓘ

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 ��vlog 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."

DES MOINES, Iowa —

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 ��vlog 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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Kum & Go, the family-owned convenience store chain, has been sold

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