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WEST DES MOINES, Iowa -- Kum & Go, operator of 450-location convenience store chain based here, retained commercial real estate firm, The Energy Exchange of Chicago, to coordinate a sealed bid auction of 21 Kum & Go stores and 12 surplus sites.
"Our company is committed to carefully-planned, strategic growth," Kum & Go L.C. president and CEO Kyle J. Krause said in a statement. "The sale of these properties is based on our desire to consolidate and strengthen our asset base and offer a consistent brand to our customers in all of our markets."
The 21 operating locations to be divested are either outside of Kum & Go's core markets, or are not large enough to consistently deliver the products that Kum & Go's newer locations offer, the company stated.
The company's business plan calls for an increase in the number of convenience stores in its core markets, while developing more and better efficiencies in its infrastructure as well as creating a stronger asset base, stated Kum & Go, which will be celebrating its 48th anniversary Sept. 1.
Of those locations, seven are located in Des Moines; three are in Wichita, Kan., and 11 in Omaha, Neb. Of the surplus sites, 11 are in Iowa, including Waterloo and Cedar Rapids, and one is in Omaha.
"This sale offers a unique opportunity for jobbers as well as individual owner operators to walk into these profitable modern convenience stores and run their own business," Mark Raccuia, executive vice president of The Energy Exchange, said in a statement.
Interested parties may bid on one, some, or all of the stores. The bid deadline is Sept. 18. To obtain a list of the stores, contact The Energy Exchange in Chicago at (866) 906-7499.