Casey's General Stores

Casey's General Stores, Inc.
Public
Traded as
Industry
Founded Incorporated in Iowa in 1967 (1967)
Headquarters Ankeny, Iowa, United States
Number of locations
  • 2,073
  • (FY APR 30 2018)
Key people
  • Robert J. Myers
  • (Chairman of the Board)
  • Terry W. Handley
  • (President & CEO)
  • William J. Walljasper
  • (Senior VP & CFO)
Revenue
  • Increase US$ 8.39 billion
  • (FY APR 30 2018)
  • Decrease US$ 265.38 million
  • (FY APR 30 2018)
  • Increase US$ 317.90 million
  • (FY APR 30 2018)
Total assets
  • Increase US$ 3.47 billion
  • (FY APR 30 2018)
Total equity
  • Increase US$ 1.27 billion
  • (FY APR 30 2018)
Number of employees
  • 17,917 (full-time)
  • 19,288 (part-time)
  • 37,205 (total)
  • (FY APR 30 2018)
Website Caseys.com
Footnotes / references
[1]

Casey's General Stores, Inc., is a chain of convenience stores in the Midwestern United States, primarily within the states of Iowa, Arkansas, Illinois, Indiana, Missouri, South Dakota, North Dakota, Kansas, Oklahoma, Nebraska, Ohio, Minnesota, Michigan, Tennessee, Kentucky, and Wisconsin. The company is headquartered in Ankeny, Iowa, a suburb of Des Moines.

History

In 1959, Donald Lamberti leased a service station in Des Moines, Iowa, from his father. After successfully remodeling the station into a convenience store and operating 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 is the same logo used today by the Casey's chain.

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).

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).

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.[2] On August 7, 2006, Casey's agreed to purchase the 33-store HandiMart chain, based in Cedar Rapids, Iowa, in a $63 million deal.[3]

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.[4]

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.[5]

Casey's announced in 2017 that it plans to open about 10 new locations in western Ohio.[6]

Casey's announced plans in August 2018 to build a store in Huber Heights, Ohio.[7]

Recent expansions

  • On October 12, 2010, Casey's announced the planned purchase of 19 "On The Way" stores in Illinois owned by Harper Oil Company, to be completed by November 2010 (Harper retained other stores and the On The Way name).[8]
  • On October 28, 2010, Casey's announced the purchase of six "Short Stop" stores in Iowa owned by J.D. Carpenter Companies, Inc.[9]
  • On November 3, 2010, Casey's announced the purchase of 44 "Kabredlo's" stores.[10] The purchase, expected to be completed by December 2010, would include 22 stores in Nebraska, 21 in Kansas, and the first Casey's location to operate in the state of Oklahoma.
  • On March 28, 2011, a Casey's General Store opened in Bella Vista, Arkansas, the chain's first store to operate in that state.
  • Casey's further solidified its Iowa base in June 2011 with the announced purchase of twenty-two Kum & Go stores in Iowa, bringing its total store number in the state to 473. At least for the time being, the Kum & Go stores will remain in the current buildings but be rebranded with signage.[11]
  • On August 2, 2012, a Casey's General Store opened in Cadiz, Kentucky, the chain's first store to operate in that state.
  • On April 11, 2013, a Casey's General Store opened in Mountain Home, Arkansas.
  • Casey's is also present in Tennessee, with a store in Dyersburg, Tennessee.
  • On September 5, 2013, a Casey's General Store opened in DeSoto, Kansas, making it the third Casey's in Kansas City.
  • On October 1, 2013, a Casey's General Store opened in Horace, North Dakota, the chain's first store to operate in that state. Later acquisitions of the Fargo-based Stop n Go in 2014 expanded the chain in North Dakota.
  • On August 28, 2013, a Casey's General Store opened in Mayfield, Kentucky, only the chain's second store to operate in that state.
  • On August 21, 2014, a Casey's General Store opened in Clarksville, Arkansas.
  • On March 20, 2017, a Casey's General Store opened in Cridersville, Ohio, the first store to operate in the state.[12]
  • On September 22, 2017, a Casey's General Store opened in Peru, Indiana, the first of two stores to be opened in the town.
  • On November 30, 2017, Casey’s General Stores has opened it’s 2,000th location in Russelville, Kentucky.[13]
  • On April 13, 2018, a Casey's General Store opened in Watervliet, Michigan, the chain's first store to operate in the state.[14]

Casey's today

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 April 30, 2018, Casey's has 2,073 stores in 16 states. Casey's operates in the following states, most of which are in the Midwestern United States and the Plains States:

Source:[15]

The store counts above include the purchases mentioned above.

References

  1. ↑ "US SEC: Form 10-K Casey's General Stores, Inc". U.S. Securities and Exchange Commission. Retrieved June 3, 2018.
  2. ↑ Reuters. "Key Developments for CASY". Retrieved 2006-11-14.
  3. ↑ DeWitte, Dave (2006-08-08). "Casey's Buying HandiMart in $63 Million Deal". The Gazette (Cedar Rapids). p. 1A.
  4. ↑ "Archived copy" (PDF). Archived from the original (PDF) on 2010-11-20. Retrieved 2010-11-27.
  5. ↑ "Archived copy" (PDF). Archived from the original (PDF) on 2010-11-20. Retrieved 2010-11-27.
  6. ↑ Hartley, Susan (2017-03-31). "Casey's opens in Ansonia". Bluebag Media. Retrieved 2017-04-03.
  7. ↑ "Casey's General Store buys Huber property for $624K". daytondailynews. Retrieved 2018-09-16.
  8. ↑ "Archived copy" (PDF). Archived from the original (PDF) on 2010-11-20. Retrieved 2010-11-27.
  9. ↑ "Archived copy" (PDF). Archived from the original (PDF) on 2010-11-20. Retrieved 2010-11-27.
  10. ↑ "Archived copy" (PDF). Archived from the original (PDF) on 2010-11-20. Retrieved 2010-11-27.
  11. ↑ "Casey's to purchase 22 Kum & Go stores in Iowa". The Daily Iowegan. 2011-06-03. Retrieved 2011-06-06.
  12. ↑ Sowinski, Greg (2017-03-17). "Casey's General Store opens in Cridersville". The Lima News. Retrieved 2017-04-07.
  13. ↑ "Casey's Celebrates 2000th Store". 2017-11-29. Retrieved 2018-02-20.
  14. ↑ Newman, Alexandra (2018-04-11). "Casey's General Store to open Friday in Watervliet". The Herald-Palladium. Retrieved 2018-04-23.
  15. ↑ "About Us - History of Casey's - Casey's General Store". www.caseys.com. Retrieved 11 April 2018.
  • Official website
  • FundingUniverse.com. "Casey's General Stores, Inc. Company History". Retrieved 2006-11-14.
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