Fast-growing convenience-store chain Yesway files to go public

Just six years after its founding, Yesway is looking to enter the public arena.

The Fort Worth-based convenience store operator has filed a statement with the U.S. Securities and Exchange Commission for a proposed $100 million initial public offering of its stock. Yesway has applied to list on The Nasdaq Global Select Market under the ticker symbol “YSWY.”

In a release, Yesway said the number of shares to be offered and the price range for the proposed offering have not yet been determined. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Yesway had $1.6 billion in sales for the 12 months ended June 30, 2021. The company has been on the fast-track since it was founded in 2015, expanding its operations through acquisitions. In November 2019, Yesway acquired the 304-store Allsup’s Convenience Stores chain.

It currently operates 403 stores under the Yesway and Allsup banners throughout Texas, New Mexico, South Dakota, Iowa, Kansas, Missouri, Wyoming, Oklahoma, and Nebraska. Its stores are differentiated through a leading foodservice offering and a wide variety of high-quality grocery items and private label products.

[Read More: Yesway opens first store in its accelerated real estate and remodel push]

Morgan Stanley, J.P. Morgan, Goldman Sachs, BMO Capital Markets, and Barclays are the joint bookrunners on the deal.