First Stop, a subsidiary of Maverik Adventures, and its parent company, FJ Management, announced the acquisition of Kum & Go from Krause Group. Maverik will also acquire Solar Transport, a tank truck carrier and logistics service owned by the Krause Group, as part of the agreement. The financial details were not provided.
The merging of Maverik and Kum & Go provides a best-in-class convenience store operator with a differentiated value proposition spanning fuel, foodservice, and inside store offerings in the Midwest and Rocky Mountain areas.
The Kum & Go brand has always been one of our favorites. Kyle and Tanner, as well as previous generations, have developed an excellent business that combines quality with ease and prioritizes people. We are proud to carry on their heritage as we grow our adventurous convenience experience and build on Kum & Go’s strong operational and innovative capabilities. We are excited to welcome Kum & Go and Solar Transport associates and stores to Maverik Adventure’s First Stop, said Chuck Maggelet, Maverik’s president and chief adventure guide.
Kum & Go has always sought to innovate, grow, and serve its customers, communities, and employees.
Maverik has established its business in the same way and is well-positioned to drive Kum & Go’s next phase of growth. We share many interests, and I am excited to welcome Chuck’s leadership, his team, and Maverik to Des Moines, which will always be the Krause Group’s home and a key part of our future,” said Kyle Krause, Krause Group president and CEO.
This is the most significant day in our family business’s 63-year history. My family has labored for four generations to construct and grow Kum & Go into a company that has done so much good for our people, Iowa, and the world. Serving as president for the past five years has allowed me to realize a lifetime ambition.
I’ve known Chuck Maggelet for many years and have a lot of regard for him as a person and a business leader. Tanner Krause, president and CEO of Kum & Go, stated, I’m confident the Maggelets and Maverik will be good stewards of Kum & Go’s people and culture for generations to come.
