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Ankeny, Iowa -- Casey's General Stores said Tuesday it has signed a definitive purchase agreement to acquire 11 convenience stores from NuWay Cooperative of Trimont, Minn.
All of the stores are located in Minnesota operating under the NuMart banner and will be immediately rebranded to Casey's, according to the company. Terms of the acquisition were not disclosed.
"These are well-maintained locations that fit perfectly with the [company's] business model of operating in smaller rural communities and further strengthens our existing marketing presence in southern Minnesota," CEO Robert J. Myers said in a statement.
The deal will be funded by existing cash and operating cash flow, Casey's said.