Casey's

Last updated
Casey's General Stores, Inc.
Casey's
Formerly
  • Casey's General Stores (1967–2020)
Company type Public
Industry Retail
Founded1967;57 years ago (1967), in Boone, Iowa, U.S.
FounderDonald Lamberti
Headquarters
Ankeny, Iowa
,
United States
Number of locations
  • 2,500
  • (FY OCT 01 2023)
Area served
 Midwestern and Southern United States
Key people
Products
  • Pizza
  • Coffee
  • Sandwiches
  • Prepared foods
  • Gasoline
  • Beverages
  • Snacks
  • Dairy products
  • Salads
Services
Revenue
  • Increase2.svg US$ 9.35 billion
  • (FY APR 30 2019)
  • Increase2.svg US$ 319.06 million
  • (FY APR 30 2019)
  • Decrease2.svg US$ 203.88 million
  • (FY APR 30 2019)
Total assets
  • Increase2.svg US$ 3.73 billion
  • (FY APR 30 2019)
Total equity
  • Increase2.svg US$ 1.41 billion
  • (FY APR 30 2019)
Owner
  • Rutter's Holdings, Inc.
  • CHR Corporation
Number of employees
  • 16,891 (full-time)
  • 19,950 (part-time)
  • 36,841 (total)
  • (FY APR 30 2019)
Website www.caseys.com
Footnotes /references
[1]

Casey's Retail Company (doing business as Casey's) is a chain of convenience stores in the Midwestern and Southern United States. The company is headquartered in Ankeny, Iowa, a suburb of Des Moines. [2] As of October 1, 2023, Casey's had 2,500 stores in 16 states. Following 7-Eleven's purchase of Speedway, Casey's is the 3rd largest convenience store chain in the United States (after 7-Eleven and Circle K) and the largest that is wholly American-owned. [3] It is one of two Iowa-based Fortune 500 companies. [4] Casey's is famous for their pizza including a breakfast pizza and a taco pizza resulting in Casey's being the fifth largest pizza chain in the U.S. [5]

Contents

History

In 1959, Donald Lamberti leased a service station in Des Moines, Iowa, from his father. After he had successfully remodeled the station into a convenience store and operated it for nine years, his gasoline supplier and friend, Kurvin C. (K.C.) Fish, suggested that he purchase the Square Deal Oil Company, a service station available for sale in Boone, Iowa. Lamberti followed Fish's advice and purchased the station, which he renamed "Casey's" after Fish and as with his leased store converted the station into a convenience store. The logo on the Boone store was used by the chain until 2020.

The Boone store (located in a town of only 12,500) did well, so Lamberti decided to see if he could duplicate his success. He built another store in Creston, Iowa (population 7,000), and that store did well also. Lamberti became more ambitious and decided to open a store from scratch in the even smaller town of Waukee, Iowa (population 1,500 at the time). The Waukee store proved to be the most successful of the three, so Lamberti decided to purchase and open more stores, concentrating on towns of less than 5,000 population (a variation on the tactic used in the early success of Wal-Mart [ citation needed ]).

1970s–1990s

By the late 1970s (when Casey's opened its first warehouse) the chain had 118 stores, including the original store operated by Lamberti's parents which entered the Casey's fold in 1977.

In 1982, Casey's opened its first Distribution Center in Urbandale, Iowa.

Casey's became a publicly traded company in October 1983, with an initial public offering of 700,000 shares. Around this time Casey's began to sell doughnuts in its stores; in December 1984 it introduced pizza into its stores (which is one of its signature items today). Their pizza options include taco pizza.

In 1990, Casey's moved to its current facility in Ankeny, Iowa.

Casey's 1,000th store opened in Altoona, Iowa, in 1996, the same year Casey's exceeded US$1 billion in annual sales.

2000–present

In January 2006, Casey's purchased Lincoln, Nebraska-based Gas 'N Shop. [6] On August 7, 2006, Casey's agreed to purchase the 33-store HandiMart chain, based in Cedar Rapids, Iowa, in a $63 million deal. [7]

In March 2010, Alimentation Couche-Tard (operator of several convenience store chains, including Circle K) offered $1.9 billion for control of the company, and later announced a proxy fight for control. Casey's rejected Couche-Tard's offer and was successful in September 2010 in retaining its board of directors vs. Couche-Tard's nominated slate. [8]

While Casey's and Couche-Tard were battling for company control, in September 2010, 7-Eleven offered a $2 billion bid for control of the company. Casey's and 7-Eleven engaged in discussions, but in November 2010 elected not to proceed with a merger. [9]

Casey's announced in 2017 that it plans to open about 10 new locations in western Ohio. [10]

Casey's announced plans in August 2018 to build a store in Huber Heights, Ohio. [11]

In 2018 Casey's announced under increasing pressure from outside investors to adopt a range of new digital initiatives including a new Fleet Card, Mobile App, and loyalty program for Casey customers. The CEO announced in late 2018 the initiative would be complete by Quarter 1 of 2020. [12]

In October 2020, Casey's announced a rebranding, including a new logo and dropping 'General Stores' from its name. [13]

In November 2020, Casey's announced it was acquiring Omaha-based Bucky's Convenience Stores, a 94 store chain, in a $580 million deal. [14]

In September 2021, Casey's purchased 38 Pilot Food Mart locations and two truck stop locations from Pilot Corporation. The locations, located in East Tennessee around the Knoxville area, were owned by the Haslam family outright and not part of the company's national truck stop chain jointly-owned by Pilot, Berkshire Hathaway, and FJ Management. [15]

In August 2023, Casey's purchased 63 Minit Mart and Certified Oil locations in Kentucky and Middle Tennessee, with plans to convert those stores into Casey's locations. [16] [17]

In November 2023, Casey's announced plans to expand into Texas with the purchase of 22 convenience stores mainly in North Texas. [18]

Operations

A Casey's General Store located in the Amana Colonies, Iowa, which complies with 'spare signage' and building aesthetics ordinances for that area Brick Casey's 2.png
A Casey's General Store located in the Amana Colonies, Iowa, which complies with 'spare signage' and building aesthetics ordinances for that area

As of November 2023, Casey's has over 2,500 stores across these states: [19]

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References

  1. ↑ "US SEC: Form 10-K Casey's General Stores, Inc". U.S. Securities and Exchange Commission . Retrieved August 5, 2019.
  2. ↑ "Casey's General Stores". Fortune. Retrieved December 28, 2018.
  3. ↑ "Casey's". CSP Daily News.
  4. ↑ "Visualize the Fortune 500". Fortune. Retrieved September 15, 2022.
  5. ↑ Casey's. "About Us". Archived from the original on September 28, 2023. Retrieved October 1, 2023.
  6. ↑ Piersol, Dick (January 9, 2019). "Casey's closing 11 Gas 'N Shops in Nebraska, three in Lincoln". Lincoln Journal Star . Retrieved June 5, 2019.
  7. ↑ DeWitte, Dave (August 8, 2006). "Casey's Buying HandiMart in $63 Million Deal". The Gazette (Cedar Rapids) . p. 1A.
  8. ↑ "Archived copy" (PDF). Archived from the original (PDF) on November 20, 2010. Retrieved November 27, 2010.{{cite web}}: CS1 maint: archived copy as title (link)
  9. ↑ "Archived copy" (PDF). Archived from the original (PDF) on November 20, 2010. Retrieved November 27, 2010.{{cite web}}: CS1 maint: archived copy as title (link)
  10. ↑ Hartley, Susan (March 31, 2017). "Casey's opens in Ansonia". Bluebag Media. Retrieved April 3, 2017.
  11. ↑ "Casey's General Store buys Huber property for $624K". daytondailynews. Retrieved September 16, 2018.
  12. ↑ "Casey's General Stores Prepares to Pilot Several Digital Initiatives". CSNEWS. Retrieved February 11, 2020.
  13. ↑ Akin, Katie. "No longer a 'General Store,' Casey's redesigns its logo for the first time in over 50 years". Des Moines Register. Retrieved October 6, 2020.
  14. ↑ Gaarder, Nancy. "Casey's will buy Bucky's for $580 million". Omaha World-Herald .
  15. ↑ McDermott, Brenna. "Haslam family selling its remaining Pilot gas stations — not truck stops — in $220M deal". Knoxville News Sentinel . Retrieved October 10, 2021.
  16. ↑ "Casey's buys local Minit Marts". Bowling Green Daily News . August 18, 2023. pp. 1A, 3A.
  17. ↑ Brown, Christian (October 18, 2023). "Casey's General Store buys out Minit Mart locations in Clarksville, bringing pizza, wings. potato cheese bites". ClarksvilleNow.com. Archived from the original on October 20, 2023. Retrieved October 19, 2023.
  18. ↑ "Beloved Midwest convenience store chain Casey's to open in Lone Star State". wfaa.com. November 8, 2023. Retrieved November 10, 2023.
  19. ↑ "Find A Casey's". www.caseys.com. Retrieved February 1, 2021.
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