WEST DES MOINES, IA - Hy-Vee is selling 21 of its Fast & Fresh convenience store locations to Nebraska-based Pump & Pantry, expanding the retailer's footprint across Iowa and the broader Midwest.
According to reporting by KGAN, 18 of the acquired locations are in Iowa, including 15 in the greater Des Moines area. Once the transaction closes, Pump & Pantry will operate 69 convenience stores across Iowa, Nebraska, and Kansas.
The acquisition is expected to be completed in July. Pump & Pantry also plans to maintain existing partnerships with brands.
Founded in 1971, Pump & Pantry cited Iowa's strong agricultural base and support for the ethanol industry as factors behind the expansion. "We really like Iowa because we're really big supporters of the Ethanol industry, and farmers in general," Pump & Pantry CEO Charlie Bosselman told KGAN.
The retailer has established a regional office in Iowa and plans to maintain a permanent presence in the state as it integrates the former Hy-Vee locations.
The transaction marks another shift in the convenience retail landscape as operators continue evaluating store portfolios and growth opportunities across the Midwest.
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