(Reuters) – Casey’s General Stores said on Friday it would acquire Fikes Wholesale, owner of CEFCO convenience stores, in an all-cash transaction for $1.15 billion.
Casey’s acquisition of Fikes will include 198 retail stores and a dealer network. It will increase Casey’s footprint to nearly 2,900 stores in the United States, the company said.
The company plans to finance the transaction through balance sheet cash and bank financing, and expects the deal to close in the fourth quarter.
(Reporting by Juveria Tabassum; Editing by Krishna Chandra Eluri)
