Media
Iowa based convenience store chain to conduct sealed bid auction of 21 stores (West Des Moines, Iowa — May 1, 2008) Kum & Go, one of the nation’s leading convenience store chains, announced today that it has retained The Energy Exchange of Chicago to coordinate a sealed bid auction of 21 Kum & Go stores. The sealed bid auction will include 12 locations in Iowa, three in South Dakota, two in North Dakota as well as one location in each of the following states—Missouri, Montana, Nebraska and Wyoming. Last August, Kum & Go began the process of divesting itself of smaller locations and stores outside of their core markets in an effort to focus on increasing their number of larger format C-stores. Kum & Go is focusing on developing better efficiencies in its infrastructure as well as creating a stronger asset base. “Our company is committed to carefully-planned, strategic growth leading in the direction of making Kum & Go the No. 1 convenient retailer,” said Kyle J. Krause, Kum & Go president and CEO. “It is our desire to consolidate and strengthen our asset base and offer a consistent brand to our customers in Kum & Go’s core markets. The sale of these properties is a step in the right direction for our company.” The sale of these 21 store locations is paralleled by an anticipated record number of new store builds. In 2008, Kum & Go has already opened seven new locations in Oklahoma, South Dakota, Colorado and Nebraska and plans to build 27 additional stores this year. The additional stores will scatter throughout the core markets in the 12 states that Kum & Go operates in. According to Mark Raccuia, executive vice president of The Energy Exchange, “These stores are located in smaller cities and towns and present ideal opportunities for individual owner-operators as well as first time operators to purchase profitable convenience stores and run their own business.” Bidders may bid on one, some or all of the stores. The bid deadline is Tuesday, June 24, 2008. To obtain a list of the available stores, contact The Energy Exchange in Chicago at 866-906-7499. The Energy Exchange is a commercial real estate firm specializing in the sale of service stations and convenience stores nationwide. About Kum & Go, L.C. Founded on exceptional customer service, Kum & Go is a pioneer in the convenience store industry. The family-owned company began in 1959 in Hampton, Iowa, and has grown to more than 430 convenience stores in 12 states (Iowa, Arkansas, Colorado, Minnesota, Missouri, Montana, Nebraska, North Dakota, Oklahoma, South Dakota, Wyoming and Wisconsin). Thanks to the efforts of its more than 3,600 associates, Kum & Go convenience stores continue to lead the industry in customer service and convenience. In addition to a wide selection of products, Kum & Go provides customers a proprietary mix of products under the well-known Hiland brand name. Other proprietary product offerings include Java Ridge Premium Coffee, Napa Creek and Sea Ridge wines, Go Fresh Market sandwiches, Nuclear energy drinks and Nutri2O nutraceutical waters. Kum & Go has maintained 48 years of dedicated community commitment, each year returning at least 10 percent of its profits to the communities it serves. Kum & Go is the 21st largest convenience store chain in the United States. For more information about Kum & Go, visit www.kumandgo.com. ###
|
