Casey's

Casey's General Stores, Inc. (doing business as Casey's) is a chain of convenience stores in the Midwestern and Southern United States. The company is headquartered in Ankeny, Iowa, a suburb of Des Moines.[2] As of October 1, 2023, Casey's had 2,500 stores in 16 states. Following 7-Eleven's purchase of Speedway, Casey's is the third-largest convenience store chain in the United States (after 7-Eleven and Circle K/Couche-Tard) and the largest that is wholly American-owned.[3] It is one of two Iowa-based Fortune 500 companies.[4] Casey's is famous for their pizza, including a breakfast pizza and a taco pizza, resulting in Casey's being the fifth largest pizza chain in the U.S.[5][6]

History

In 1959, Donald Lamberti leased a service station in Des Moines, Iowa, from his father. After he had successfully remodeled the station into a convenience store and operated 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, then converted it into a convenience store.[7][8] The logo on the Boone store was used by the chain until 2020.

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.[9] 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.[10]

1970s–1990s

By the late 1970s, the chain had 118 stores and opened its first warehouse.[10] The original store, operated by Lamberti's parents, entered the Casey's fold in 1977.

In 1982, Casey's opened its first Distribution Center in Urbandale, Iowa.[9][10]

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 and pizza in its stores.[10] The store also briefly introduced fried chicken before abandoning the endeavor.[11]

In 1990, Casey's moved to its current facility in Ankeny, Iowa.[9]

Casey's 1,000th store opened in Altoona, Iowa, in 1996, the same year Casey's exceeded US$1 billion in annual sales.[9] In 1998, Lamberti stepped down from his role as CEO and became the company's chairman.[12] He retired in 2002.[11]

2000s–2020s

In January 2006, Casey's purchased Lincoln, Nebraska-based Gas 'N Shop.[13][14][15] On August 7, 2006, Casey's agreed to purchase the 33-store HandiMart chain, based in Cedar Rapids, Iowa, in a $63 million deal.[16][17]

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 against Couche-Tard's nominated slate.[18][19]

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.[20][21]

In April 2016, Casey's opened a distribution center in Terre Haute, Indiana, the company's second.[22] Casey's announced in 2017 that it plans to open about 10 new locations in western Ohio.[23]

Casey's announced plans in August 2018 to build a store in Huber Heights, Ohio.[24]

In 2018 Casey's announced under increasing pressure from outside investors to adopt a range of new digital initiatives including a new Fleet Card, mobile app, and loyalty program for Casey customers. The CEO announced in late 2018 the initiative would be complete by Quarter 1 of 2020.[25]

2020–present

In October 2020, Casey's announced a rebranding, including a new logo and dropping 'General Stores' from its signage (though it remained in the legal corporate name until 2022).[26]

In November 2020, Casey's announced it was acquiring Omaha-based Bucky's Convenience Stores, a 94 store chain, in a $580 million deal.[27]

In 2021 Casey's began branding small-footprint stores without kitchens as goodstop by Casey’s. This came following a series of acquisitions, and those that were not suitable for a full-service Casey's location were branded as goodstop.[28][29]

In April 2021, Casey's opened a third distribution center in Joplin, Missouri.[30] In May, it closed its acquisition of Buchanan Energy and became the owner of 94 Bucky's Convenience Stores.[31] As part of the deal, Casey's was ordered to divest six stores to appease regulators.[32][33] In September 2021, Casey's purchased 38 Pilot Food Mart locations and two truck stop locations from Pilot Corporation. The locations in East Tennessee, around the Knoxville area, were owned by the Haslam family outright and not part of the company's national truck stop chain jointly owned by Pilot, Berkshire Hathaway, and FJ Management.[34]

In August 2023, Casey's purchased 63 Minit Mart and Certified Oil locations in Kentucky and Middle Tennessee, with plans to convert those stores into Casey's locations; the deal closed in October.[35][36] In November of that year, Casey's expanded into Texas with the purchase of 22 convenience stores mainly in North Texas.[37]

In July 2024, Casey's purchased Fikes Wholesale, Inc., including its chain of CEFCO convenience stores, in a $1.145B all-cash transaction. The deal, which closed in November 2024, added nearly 200 stores and expanded Casey's further into Texas as well as for the first time into the states of Alabama, Florida, and Mississippi.[38]

In September 2024, Casey's purchased 4 stores from Oakcrest Market, expanding its presence in the area of Fort Smith, Arkansas.[39]

In October 2024, Casey's purchased the naming rights to the Wells Fargo Arena, renaming it Casey's Center on July 1, 2025.[40] The deal cost $18 million and will last for ten years.[41]

In April 2026, it was announced that the company's stock (ticker CASY) would join the S&P 500.[42]

Operations

As of August 2025, Casey's has over 2,600 stores across these states:[43]

  • Alabama
  • Arkansas
  • Florida
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Minnesota
  • Missouri
  • Nebraska
  • North Dakota
  • Ohio
  • Oklahoma
  • South Dakota
  • Tennessee
  • Texas
  • Wisconsin

References

  1. US SEC: Form 10-K Casey's General Stores, Inc. U.S. Securities and Exchange Commission, retrieved August 5, 2019^
  2. Casey's General Stores Fortune, retrieved December 28, 2018^
  3. Top 202 Convenience Stores 2024 CSP Daily News, retrieved 2024-07-30^
  4. Visualize the Fortune 500 Fortune, retrieved September 15, 2022^
  5. Olivia White. America’s Fifth-Largest Pizza Chain Is a Midwestern Gas Station VinePair, 2024-01-09, retrieved 2024-07-30^
  6. Patt Johnson. Casey's is fifth largest pizza chain in U.S. The Des Moines Register, retrieved 2024-07-30^
  7. Eric Arnold. Don Lamberti Businessman Dirt Monthly, National Spring Car Hall of Fame & Museum, July 2020, retrieved July 29, 2024^
  8. Danielle Romano. The Impetus Behind Casey’s New Modern Brand Image Convenience Store News, 2021-01-20, retrieved 2024-07-30^
  9. Bailey Poolman. 45 years in business Creston News, 2014-09-19, retrieved 2024-07-30^
  10. Casey's: We're your neighbors, your friends, and your family. Red Lion Data, 2023-04-22, retrieved 2024-07-30^
  11. David Elbert. The Secret Behind Casey's Success Des Moines Sunday Register, May 29, 2011, retrieved July 30, 2024^
  12. The 50 Most Influential People in Convenience Store History Convenience Store News, retrieved 2024-07-30^
  13. Casey's To Acquire 58 Stores Convenience Store News, 2005-05-23, retrieved 2024-07-30^
  14. Casey's General Stores to Purchase 58 Gas 'N Shop Stores Progressive Grocer, 2005-05-23, retrieved 2024-07-30^
  15. Dick Piersol. Casey's closing 11 Gas 'N Shops in Nebraska, three in Lincoln Lincoln Journal Star, January 9, 2006, retrieved June 5, 2019^
  16. Dave DeWitte. Casey's Buying HandiMart in $63 Million Deal The Gazette (Cedar Rapids), August 8, 2006^
  17. Casey's To Acquire HandiMart for $63 Million Convenience Store News, 2006-08-09, retrieved 2024-07-30^
  18. Casey's Shareholders Reelect All Casey's Board Nominees At Annual Meeting September 23, 2010, retrieved November 27, 2010^
  19. Dave DeWitte. Casey's rejects hostile takeover offer www.thegazette.com, April 9, 2010, retrieved 2024-07-30^
  20. Discussions Between Casey's and 7-Eleven Regarding Potential Transaction Terminate November 3, 2010, retrieved November 27, 2010^
  21. Casey's ends takeover talks with 7-Eleven Reuters, November 3, 2010, retrieved July 30, 2024^
  22. Kristina Hurtig. Casey’s Celebrates Second Distribution Center CSP Daily News, April 18, 2016, retrieved 2024-07-30^
  23. Susan Hartley. Casey's opens in Ansonia The Early Bird Newspaper, March 31, 2017, retrieved April 3, 2017^
  24. Thomas Gnau. Casey's General Store buys Huber property for $624K Dayton Daily News, August 30, 2018, retrieved September 16, 2018^
  25. Casey's General Stores Prepares to Pilot Several Digital Initiatives CSNEWS, retrieved February 11, 2020^
  26. Katie Akin. No longer a 'General Store,' Casey's redesigns its logo for the first time in over 50 years Des Moines Register, retrieved October 6, 2020^
  27. Nancy Gaarder. Casey's will buy Bucky's for $580 million Omaha World-Herald, November 9, 2020^
  28. Greg Lindenberg. Casey’s Launches New Retail Brand Convenience Store Products, Informa plc, 2022-01-10, retrieved 2026-01-08^
  29. goodstop by Casey's Casey's, retrieved 2026-01-07^
  30. Greg Lindenberg. Casey’s Opens 3rd Distribution Center CSP Daily News, April 15, 2021, retrieved 2024-07-30^
  31. Casey's General Stores Completes Buchanan Energy Deal Convenience Store News, May 14, 2024, retrieved 2024-07-30^
  32. FTC: Casey's Must Divest Locations to Complete Bucky's Acquisition Convenience Store News, April 29, 2021, retrieved 2024-07-30^
  33. 7-Eleven, Casey’s Complete Major Acquisitions NACS, May 17, 2021, retrieved 2024-07-30^
  34. Brenna McDermott. Haslam family selling its remaining Pilot gas stations — not truck stops — in $220M deal Knoxville News Sentinel, retrieved October 10, 2021^
  35. Don Sergent. Casey's buys local Minit Marts Bowling Green Daily News, August 18, 2023^
  36. Christian Brown. Casey's General Store buys out Minit Mart locations in Clarksville, bringing pizza, wings. potato cheese bites ClarksvilleNow.com, October 18, 2023, retrieved October 19, 2023^
  37. Beloved Midwest convenience store chain Casey's to open in Lone Star State wfaa.com, November 8, 2023, retrieved November 10, 2023^
  38. Brett Dworski. Casey’s to acquire CEFCO for $1.1B cstoredive.com, July 26, 2024, retrieved July 27, 2024^
  39. Greg Lindberg. Casey’s Buys 4 Oakcrest Market C-Stores in Arkansas CSP Daily News, 18 September 2024, retrieved 8 October 2025^
  40. Kelby Wingert. Wells Fargo Arena to be renamed Casey's Center in 2025 KCCI, 2024-10-22, retrieved 2024-10-22^
  41. Philip Jones. Name change of Des Moines' arena becomes official: it's now Casey's Center desmoinesregister.com, July 1, 2025^
  42. "Casey's General Stores set to join S&P 500", seekingalpha.com, April 6, 2026. Retrieved 2026-04-07.^
  43. Casey's Locations www.caseys.com, retrieved January 9, 2025^