1416 ET - With its deal to buy Fikes Wholesale now closed, Casey's General Stores gets 198 stores across Texas and the Southeast, dealer locations, as well as a terminal in the Lone Star State, according to Jefferies in a note. "Given that Texas is a strategic priority geography for the company, we believe that this deal aligns closely with the company's long-term goals," the analysts say. Fikes operates large format stores with high fuel volumes, according to the analysts, and 85% of the store base are already equipped with a kitchen and will be able to be converted into Casey's. In total, the deal brings Casey's store count to about 2.9K, Jefferies says. Casey's rises 3.7%. (sabela.ojea@wsj.com; @sabelaojeaguix)
(END) Dow Jones Newswires
November 05, 2024 14:16 ET (19:16 GMT)
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