(West Des Moines, Iowa — February 9, 2009) Kum & Go, L.C., one of the nation’s leading convenience store chains, today signed an agreement to purchase 37 Cody’s Convenience Stores in southwest Missouri. Cody’s is currently operated by Springfield, MO-based Cody Ventures LLC. The closing is subject to completion of due diligence and customary closing conditions. Kum & Go anticipates that the closing will take place within the next month.
The pending deal will make Kum & Go the largest convenience stores operator in southwest Missouri. Today, Kum & Go’s portfolio comprises of 34 stores in southwest Missouri.
“Southwest Missouri is a great place to expand and bring the latest store conveniences Kum & Go has to offer,” says Kyle Krause, Kum & Go President and CEO. “We look forward to building upon the excellent relationship the Jared family has developed with Springfield, Joplin and surrounding communities.”
Cody’s currently has locations in Battlefield, Bolivar, Clever, Fair Grove, Hollister, Joplin, Monett, Neosho, Nixa, Republic, Rogersville, Springfield, Waynesville, and Webb City, MO. In addition to the 37 convenience stores, Kum & Go will also assume ownership of Cody’s eight car washes.
“This business transaction is a win for Southwest Missouri. In today’s uncertain economy, our community and associates will benefit from Kum & Go’s strong position in the convenience retail market. Their fifty years in business speaks volumes,” said Curtis Jared, President and CEO of Cody Ventures LLC. “We wish Kum & Go the best and look forward to working with them on future real estate transactions.”
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 431 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 50 years of dedicated community commitment, each year returning at least 10 percent of its profits to the communities it serves. Kum & Go is the 5th largest privately-held convenience store chain in the United States. For more information about Kum & Go, visit www.kumandgo.com.
