Kum & Go To Sell 22 Stores To Casey’s

Kum & Go and Casey’s General Stores, Inc. (Nasdaq: CASY) announced today that they have signed an Asset Purchase Agreement for Casey’s to acquire 22 convenience stores from Kum & Go. The stores are located in Iowa, Missouri and North Dakota.

“Our company is committed to carefully-planned, strategic growth – that’s evidenced by the fact that we’ll open 40 new stores this year alone,” said Kyle J. Krause, Kum & Go president and CEO. “It’s our continued 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, in addition to our new store growth, brings us one step closer to carrying out that strategy.”

“These stores are an excellent fit to our existing store base and will allow us an opportunity to operate in a new state,” said Robert J. Myers, President and CEO of Casey’s. “We expect this acquisition to be accretive in the first year of operation and enhance future earnings as we integrate our prepared food operations.”

The following stores are included in the purchase agreement:

		Address			City			State
		210 N Main St			Sigourney			IA
		400 S Main St			Osceola			IA
		744 Washington St			Pella			IA
		413 A Ave W			Oskaloosa			IA
		901 S Market St			Oskaloosa			IA
		318 N Lincoln St			Knoxville			IA
		1201 E Main St			Knoxville			IA
		1400 E Washington St			Clarinda			IA
		106 S 4th St			Forest City			IA
		508 SE Kent St			Greenfield			IA
		501 S Main St			Monticello			IA
		919 W Washington St			Marshfield			MO
		903 N Sumner Ave			Creston			IA
		301 W Taylor St			Creston			IA
		702 Chatburn Ave			Harlan			IA
		204 S Main St			Albia			IA
		3001 Main St			Emmetsburg			IA
		916 E Main St			Marshalltown			IA
		504 10th St			Hawarden			IA
		503 S Franklin St			Kirksville			MO
		112 N Main St			Horace			ND
		1301 W Sheridan Ave			Shenandoah			IA

The acquisition is subject to certain regulatory approvals and other customary closing conditions, including the receipt of satisfactory inspection reports related to the stores. The transaction is expected to close in November 2012.

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