Casey's General Stores
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|Traded as||NASDAQ: CASY
S&P 400 Component
|Industry||Retail (Convenience stores), Fuel|
|Headquarters||Ankeny, Iowa, U.S.|
|Terry W. Handley, CEO
William J. Walljasper, CFO
|Revenue||$7.51 billion (FY 2017)|
Number of employees
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, and Wisconsin. The company is headquartered in Ankeny, Iowa; a suburb of Des Moines.
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).
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.
In January 2006, Casey's purchased Lincoln, Nebraska-based Gas 'N Shop. On August 7, 2006, Casey's agreed to purchase the 33-store HandiMart chain, based in Cedar Rapids, Iowa, in a $63 million deal.
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.
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.
Casey's announced in 2017 that it plans to open about 10 new locations in western Ohio.
- 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).
- On October 28, 2010, Casey's announced the purchase of six "Short Stop" stores in Iowa owned by J.D. Carpenter Companies, Inc.
- On November 3, 2010, Casey's announced the purchase of 44 "Kabredlo's" stores. 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.
- 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.
- 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.
As of February 19th, 2018, Casey's has over 2,000 stores in 15 states. As of June 2017, Casey's currently operates in the following states, most of which are in the Midwestern United States and the Plains States:
- Iowa (519 stores)
- Illinois (439 stores)
- Missouri (325 stores)
- Kansas (158 stores)
- Nebraska (134 stores)
- Minnesota (149 stores)
- Indiana (92 stores)
- South Dakota (42 stores)
- North Dakota (27 stores)
- Wisconsin (18 stores)
- Arkansas (37 stores)
- Oklahoma (18 stores)
- Kentucky (11 stores)
- Tennessee (8 stores)
- Ohio (3 stores)
The store counts above include the purchases mentioned above.
- "Annual Financials for Casey's General Stores Inc". Retrieved 28 October 2017.
- "Company Profile for Caseys General Stores Inc (CASY)". Retrieved 2008-10-22.
- Reuters. "Key Developments for CASY". Retrieved 2006-11-14.[permanent dead link]
- DeWitte, Dave (2006-08-08). "Casey's Buying HandiMart in $63 Million Deal". The Gazette (Cedar Rapids). p. 1A.
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- Hartley, Susan (2017-03-31). "Casey's opens in Ansonia". Bluebag Media. Retrieved 2017-04-03.
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- "Casey's to purchase 22 Kum & Go stores in Iowa". The Daily Iowegan. 2011-06-03. Retrieved 2011-06-06.
- Sowinski, Greg (2017-03-17). "Casey's General Store opens in Cridersville". The Lima News. Retrieved 2017-04-07.
- "Casey's Celebrates 2000th Store". 2017-11-29. Retrieved 2018-02-20.
- "About Us - History of Casey's - Casey's General Store". www.caseys.com. Retrieved 26 January 2018.