Kum & Go to be acquired

Kum & Go, a convenience store chain that's invested hundreds of millions of dollars in the Springfield market in recent years, has entered a deal to be acquired.

Based in Des Moines, Iowa, Kum & Go is slated to be purchased by Salt Lake City-based Maverik, another convenience store chain that largely operates in the western United States, according to a news release. The financial terms of the deal were not disclosed.

Kum & Go, which has around 400 locations in 13 states, is being sold by the Krause Group to FJ Management, parent company of Maverik, which also has around 400 stores. FJ Management also is acquiring Solar Transport, a tank truck carrier and logistics provider, as part of the deal with the Krause Group.

"We have long admired the Kum & Go brand," Maverik President Chuck Maggelet said in the release. “We are honored to carry their legacy forward as we build on Kum & Go’s strong operating and innovation capabilities and expand our adventurous convenience experience."

The deal is expected to close in the coming months, pending customary closing provisions, according to the release.

A Kum & Go spokesperson previously told Springfield Business Journal that the company invested at least $140 million into the local metropolitan statistical area since 2012. The company’s website lists 25 locations within Springfield city limits.