Maverik, along with parent company FJ Management, has finalized its deal to acquire Iowa-based c-store chain Kum & Go and Solar Transport from Krause Group.
The closing of this transaction creates a vast convenience store network across the Midwest and Rocky Mountain regions, growing Maverik’s footprint to over 800 stores in 20 states with approximately 14,000 employees.
“We are excited to welcome Kum & Go and Solar Transport team members to Maverik,” said Chuck Maggelet, CEO and chief adventure guide of Maverik. “Together, we’ll offer our customers an adventurous and differentiated convenience store experience across fuel, foodservice and inside-store offerings. We look forward to using our combined resources to grow our business and further elevate our product offerings to provide the best service to our customers.”
In appreciation of Maverik’s Des Moines, Iowa-based team and the local community, Maverik will donate $50,000 to The Des Moines Public Schools Foundation. Maverik’s donation will provide fresh fruits, vegetables and toiletries at Des Moines Public Schools 53 food pantries in schools across the district.
“Together over four generations — from my grandfather Tony and my dad Bill to me and my son Tanner — we built these businesses over 64 years through shared vision, collective entrepreneurship and teamwork,” said Kyle Krause, Krause Group founder and CEO. “I’m also incredibly thankful for our associates and their unique contributions that allowed Kum & Go and Solar Transport to reach this level of success. We’ve run the businesses and differentiated ourselves by putting people first and making days better in all we do. Over the last six years, Tanner’s leadership was at the core of these efforts, resulting in a tremendous impact on Kum & Go. I’m confident Kum & Go and Solar Transport are set up for future success with Maverik. 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.”
Chuck Maggelet will lead the newly combined organization and Tanner Krause will transition out of the company. Tanner Krause leaves behind a strong legacy from his six years of leadership as president and CEO of Kum & Go.
