By John Lofstock, Editor Under CEO Alain Bouchard, Alimentation Couche-Tard has grown to be one of the largest convenience store operators in world. The Laval, Quebec-based chain today took its boldest step to date when it commenced an all-cash offer to acquire Casey’s General Stores, the Iowa chain currently operating 1,513 stores throughout the Midwest.…
Casey’s Debuts on Fortune 500
Ankeny, Iowa-based Casey’s General Stores has made its first appearance in the Fortune 500 list, the Des Moines Register reported today. The c-store chain debuts at No. 485 on Fortune magazine’s annual ranking of the country’s 500 largest corporations by revenue. The list is in the May 3 edition, which is hitting mailboxes now. Bill…
Casey’s Uses Poison Pill Defense
Canadian c-store giant Alimentation Couche-Tard is calling on Casey’s General Stores to discuss its bid, as the Iowa-based chain moves to instead thwart the hostile acquisition, the Globe and Mail reported. “A meeting would be more productive than putting roadblocks, like a poison pill, in the path of our compelling proposal,” Couche-Tard said in a statement.…
Casey’s Acquires 10 Holiday Stationstores
Just days after publicly rejecting Alimentation Couche-Tard’s unsolicited bid, Akron, Iowa-based Casey’s General Stores Inc. announced that it will be the one making an acquisition. Casey’s is purchasing 10 Holiday Stationstore convenience stores in Nebraska and Iowa, Bill Walljasper, senior vice president and CFO of Casey’s told the Omaha World Herald. Casey’s, which operates 1,500…
Law Office Conducts Investigation On Behalf of Casey’s Shareholders
The Law Offices of Howard G. Smith announced it is looking into potential claims against the board of directors of Casey’s General Stores Inc. related to the unsolicited purchase offer the company received from Alimentation Couche-Tard Inc. Couche-Tard is looking to acquire all outstanding shares of Casey’s for $36 per share in cash. The proposed…
Casey’s Rejects Unsolicited Couche-Tard Bid
Following an unsolicited proposal from Alimentation Couche-Tard, Casey’s General Stores stock grew 20.7% to $38.10 in premarket trading Monday after the company unanimously rejected the offer, The Street reported. Casey’s received the unsolicited buyout proposal for $36 a share in cash on March 9. In a statement released on April 9, Casey’s said “the board…
Couche-Tard Makes Unsolicited Bid for Casey’s Stores
Alimentation Couche-Tard Inc., the Canadian convenience-store chain, made an unsolicited bid for Casey’s General Stores Inc. for $36 a share in cash, BusinessWeek reported Couche-Tard offered the Ankeny, Iowa-based company, which operates more than 1,500 stores in the Midwest, 14% more than its closing price yesterday in Nasdaq Stock Market trading. Including about $29 million…
Casey’s Sponsors USMTS National Tour
Casey’s General Stores is continuing its tradition of being the title sponsor of the U.S. Modified Touring Series (USMTS) National Tour and the Hunt for the USMTS National Championship for at least the next three seasons, USMTS reported. For the seventh straight year, the USMTS Casey’s General Stores National Tour campaign will kick off with…
Casey’s Breaks Ground On New Site
Casey’s General Stores Inc. has begun construction on a new location that is set to open by this summer in Neosho, Mo., between Cash Country and Price Cutter on the Neosho Boulevard, Neosho Daily News reported. Casey’s, which operates 1,474 corporate sites, is in the process of rolling out a new store format, which will…
Catering to the Community
It was 1968 when Don Lamberti purchased a Boone, Iowa service station and converted it into a convenience store, launching what would eventually grow into the thriving chain known as Casey’s General Stores. By the end of its first decade, Casey’s had more than 100 locations, plus its own warehouse. To meet its growing business…