“We are excited about the opportunity to acquire the Stop-n-Go chain as they are a well-managed and established group of stores in a relatively new market area for Casey’s,” said Robert Myers, president and CEO. “This acquisition will be accretive to earnings in the first year of operation and will provide future earnings enhancements as we realise operating efficiencies and integrate our prepared food operations.”
The acquisition is subject to certain regulatory approvals and other customary closing conditions, including the company’s receipt of satisfactory inspection reports related to the stores.
The transaction is expected to close in May 2014 and will be funded by a combination of existing cash and operating cash flow.
Source: Casey’s General Stores
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