ANKENY, Iowa (AP) — An Iowa-based convenience store chain has completed the purchase of 40 stores from Knoxville, Tennessee-based Pilot Corporation.
Casey’s General Stores, Inc. announced in a news release that it had closed the sale as part of a three-year strategic plan to add 345 new stores nationwide.
The company describes itself as the third-largest convenience store retailer in the United States, with more than 2,400 stores nationwide.
Casey’s says the purchase will expand its footprint in Tennessee and Kentucky.
The Knoxville News Sentinel reported that the Haslam family, which owns a controlling share of Pilot, intends to get out of the convenience store business, while still maintaining some travel centers.
Berkshire Hathaway, Warren Buffett’s company, in 2017 announced plans to initially buy 38.6% of Pilot, a share that in 2023 will increase to 80%. The Haslams will maintain a 20% share in 2023 and plan to stay involved in the company.
The Pilot convenience stores were owned and operated independently from Pilot’s travel center and energy businesses and were not included in the Berkshire Hathaway transaction, a news release says.