BW Gas & Convenience Holdings LLC, which is backed by Brookwood Financial Partners LLC, is acquiring 21 convenience stories in Iowa. The seller is Kum & Go. No financial terms were disclosed. In conjunction with this transaction, BW Gas & Convenience has launched its national convenience store brand Yesway located in Des Moines, Iowa.
BEVERLY, Mass.–(BUSINESS WIRE)–BW Gas & Convenience Holdings, LLC (“BW Gas & Convenience”), an affiliate of Brookwood Financial Partners, LLC (“Brookwood”), a nationally-recognized private equity investment firm, has moved forward with its acquisition of 21 convenience stores in Iowa from Kum & Go, L.C. (“Kum & Go”). The first three stores in Mason City are being acquired this week, with the remaining 18 stores expected to be acquired within the next four weeks. With this acquisition, BW Gas & Convenience will own and operate 31 stores in Iowa. BW Gas & Convenience has a robust acquisition pipeline and plans to acquire between 600-1,000 convenience stores throughout the United States over the next several years.
Coincident with this acquisition, BW Gas & Convenience is proud to unveil its national convenience store brand, Yesway. Headquartered in Des Moines, Yesway will offer an expanded product assortment, enhanced food service offering and terrific, neighborly customer service. In addition, Yesway plans to spend approximately $6.7 million to completely upgrade and remodel its entire portfolio to further enhance the customer experience. Under the direction of Brian Trout, Yesway’s Senior Vice President of Operations, Yesway will be improving the merchandise mix, and customers will soon be able to enjoy an exciting new loyalty program.
“The new exterior and interior store design will enhance the overall appeal of the stores and enable us to offer a fresh experience for consumers in the Iowa region,” said Mr. Trout. “Customers will enjoy redesigned stores that are true to our brand tenets, which are to be user-friendly, inviting and efficient. Over the years, the previous owners have established a loyal and reliable customer base, and we look forward to continuing to serve them in their respective local communities.”
“The launch of Yesway marks the beginning of an exciting new branding venture for BW Gas & Convenience,” said Thomas Nicolas Trkla, Yesway’s Chairman and Chief Executive Officer. “Yesway is committed to serving our customers and providing them with a terrific shopping experience. We look forward to expanding our brand in the Midwest and becoming an integral part of the communities we serve.”
About Brookwood Financial Partners, LLC – Brookwood is a nationally-recognized private equity investment firm that specializes in acquiring and managing value-add commercial real estate and related operating businesses on behalf of a select group of institutional investors, family offices and high net worth individuals. Since its founding in 1993, Brookwood has invested over $820 million of equity to acquire a portfolio of 220 commercial real estate and convenience store properties, with a realized and unrealized value in excess of $2.2 billion. The portfolio has spanned multiple asset classes, geographical markets and industries across the United States. www.brookwoodfinancial.com
About Yesway – BW Gas & Convenience, d/b/a Yesway, is headquartered in Des Moines, Iowa. Yesway plans to acquire, improve and rebrand 600-1,000 convenience stores in selected regions of the United States over the next several years. For more information on Yesway, please visit the company’s website at www.yesway.com.