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LA CROSSE, Wis. — Kwik Trip Inc. inked a deal to acquire another Wisconsin retailer, PDQ Food Stores.
Based in Middleton, PDQ is an employee-owned company that owns 34 company-operated convenience stores in southern Wisconsin, reported Channel3000.com, citing a press release.
"This acquisition allows Kwik Trip to expand its presence in a market that is important to its overall retail growth strategy," the press release said. "The PDQ management and employees have built an excellent brand over their 65 years in business and are well known for their excellent customer service and convenience."
Kwik Trip spokesperson John McHugh said the company will invest $30 million to $40 million in the PDQ stores to bring them up to Kwik Trip standards.
"With the acquisition of PDQ and future remodel of the PDQ locations we anticipate adding more than 1,000 jobs," said Mark Zietlow, real estate manager and third generation owner of Kwik Trip.
The transaction is expected to close in early October, subject to approval by PDQ employees and other customary closing conditions.
La Crosse-based Kwik Trip plans to operate the acquired stores under the existing PDQ banner until planned remodels and reimaging are completed in mid-2018.
Kwik Trip is a family-owned company with more than 400 convenience stores across Wisconsin, Minnesota and Iowa. It also operates its own bakery, commissary, dairy, distribution warehouse, and vehicle maintenance divisions.