FORT WORTH, Texas — Convenience-store retailer Yesway in May opened three new Allsup’s-branded outlets in Friona, Hereford and Azle, Texas. These are the latest in a series of both new-to-industry stores and major raze and rebuilds that the company is undertaking within the Yesway and Allsup’s portfolios and part of its long-term growth strategy.
- Yesway is No. 21 in CSP’s Top 40 Update to the 2021 Top 202 ranking of U.S. c-store chains by store count. Watch for the full 2022 Top 202 ranking in the June issue of CSP magazine and in CSP Daily News.
Since its inception in 2015, the company has assembled a retail network made up of a long series of acquisitions of all sizes, with a goal of assembling a portfolio of more than 500 c-stores in select regions of the United States over the next several years.
Yesway acquired the Allsup’s chain of 304 c-stores in late 2019, more than doubling its store count.
In late 2020, Yesway completed the private placement of $235 million of equity. It is using the capital to fund an extensive raze-and-rebuild and store-remodel campaign across the company’s brands and to pursue more acquisitions.
In late 2021, Yesway filed a statement with the U.S. Securities and Exchange Commission (SEC) for a proposed $100 million initial public offering (IPO) of stock.
- To learn more about the chain, its acquisitions strategy and the IPO, read the February 2022 CSP cover feature, Going Public? Yesway!
These three new Allsup’s stores each feature 5,630 square feet of interior merchandising space, 28 fueling positions and are open 24 hours a day. Customers visiting these new stores will find Allsup’s burritos; a full assortment of Yesway and Allsup’s private-label snacks; a new trucker and automotive section; Allsup’s bread, milk and eggs; and a beer cave along with amenities including Western Union service, ATM availability and Coin Cloud digital currency machines offering more than 30 digital currencies.
“We are so pleased to bring these new stores to our long-time, loyal Allsup’s customers in Friona, Hereford and Azle, Texas,” said Tom Trkla, chairman and CEO of Yesway. “We also believe it is essential to support the people and the communities we serve. That is why, in honor of these latest grand openings, we have made donations of $1,250 each to the Friona Volunteer Fire Department, the Friona Police Department, the Hereford Food Pantry, the Hereford Police Department, the Azle Police Department, the Azle Fire Department and EMS, and the Azle Independent School District.”
Fort Worth, Texas-based Yesway’s portfolio consists of more than 400 Yesway and Allsup’s c-stores in Texas, New Mexico, South Dakota, Iowa, Kansas, Missouri, Wyoming, Oklahoma and Nebraska.
The company is a multi-branded platform that acquires, transforms and enhances portfolios of convenience stores by leveraging expertise in real estate and technology. The company is an affiliate of Beverly, Mass.-based Brookwood Financial Partners, a real-estate and private-equity investment and asset management company with more than $2.6 billion in holdings. Brookwood Financial Partners LLC formed BW Gas & Convenience Holdings LLC in 2015 and announced its c-store brand, Yesway, in the summer of 2016.
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