Casey's General Stores
Encyclopedia
Casey's General Stores, Inc. is a chain of convenience store
s in the Midwestern United States
, primarily within the states of Iowa
, Illinois
, Indiana
, Missouri
, South Dakota
, Minnesota
, Kansas
and Nebraska
. The company is headquartered in Ankeny, Iowa
.
in Des Moines, Iowa
from his father. After successfully remodeling the station into a convenience store and operating it for nine years, his gasoline supplier and friend, Kurvin C. (K.C.) Fish, suggested that he purchase the Square Deal Oil Company, a service station available for sale in Boone, Iowa
. Lamberti followed Fish's advice and purchased the station, which he renamed "Casey's" after Fish and as with his leased store converted the station into a convenience store. The logo on the Boone store is the same logo used today by the Casey's chain.
The Boone store (located in a town of only 12,500) did well, so Lamberti decided to see if he could duplicate his success. He purchased another store in Creston, Iowa
(population 7,000) and that store did well also. Lamberti became more ambitious and decided to open a store from scratch in the even smaller town of Waukee, Iowa
(population 1,500 at the time). The Waukee store proved to be the most successful of the three, so Lamberti decided to purchase and open more stores, concentrating on towns of less than 5,000 population (a variation on the tactic used in the early success of Wal-Mart
).
By the late 1970s (when Casey's opened its first warehouse) the chain had 118 stores, including the original store operated by Lamberti's parents which entered the Casey's fold in 1977.
In 1982 Casey's opened its first Distribution Center in Urbandale, Iowa
.
Casey's became a publicly traded company in October, 1983, with an initial public offering of 700,000 shares. Around this time Casey's began to sell doughnuts in its stores; in December 1984 it introduced pizza into its stores (which is one of its signature items today).
In 1990 Casey's moved to its current facility in Ankeny.
Casey's 1,000th store opened in Altoona, Iowa
in 1996, the same year Casey's exceeded US$1 billion in annual sales.
In January 2006, Casey's purchased Lincoln, Nebraska
-based Gas 'N Shop. On August 7, 2006, Casey's agreed to purchase the 33-store HandiMart chain, based in Cedar Rapids, Iowa
, in a $63 million deal.
In March 2010, Alimentation Couche-Tard
(operator of several convenience store chains, including Circle K
offered $1.9 billion for control of the company, and later announced a proxy fight
for control. Casey's rejected Couche-Tard's offer and was successful in September 2010 in retaining its board of directors vs. Couche-Tard's nominated slate.
While Casey's and Couche-Tard were battling for company control, in September 2010, 7-Eleven
offered a $2 billion bid for control of the company. Casey's and 7-Eleven engaged in discussions, but in November 2010 elected not to proceed with a merger.
:
The store counts above include the purchases mentioned above.
Convenience store
A convenience store, corner store, corner shop, commonly called a bodega in Spanish-speaking areas of the United States, is a small store or shop in a built up area that stocks a range of everyday items such as groceries, toiletries, alcoholic and soft drinks, and may also offer money order and...
s in the Midwestern United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
, primarily within the states of Iowa
Iowa
Iowa is a state located in the Midwestern United States, an area often referred to as the "American Heartland". It derives its name from the Ioway people, one of the many American Indian tribes that occupied the state at the time of European exploration. Iowa was a part of the French colony of New...
, Illinois
Illinois
Illinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
, Indiana
Indiana
Indiana is a US state, admitted to the United States as the 19th on December 11, 1816. It is located in the Midwestern United States and Great Lakes Region. With 6,483,802 residents, the state is ranked 15th in population and 16th in population density. Indiana is ranked 38th in land area and is...
, Missouri
Missouri
Missouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It...
, South Dakota
South Dakota
South Dakota is a state located in the Midwestern region of the United States. It is named after the Lakota and Dakota Sioux American Indian tribes. Once a part of Dakota Territory, South Dakota became a state on November 2, 1889. The state has an area of and an estimated population of just over...
, Minnesota
Minnesota
Minnesota is a U.S. state located in the Midwestern United States. The twelfth largest state of the U.S., it is the twenty-first most populous, with 5.3 million residents. Minnesota was carved out of the eastern half of the Minnesota Territory and admitted to the Union as the thirty-second state...
, Kansas
Kansas
Kansas is a US state located in the Midwestern United States. It is named after the Kansas River which flows through it, which in turn was named after the Kansa Native American tribe, which inhabited the area. The tribe's name is often said to mean "people of the wind" or "people of the south...
and Nebraska
Nebraska
Nebraska is a state on the Great Plains of the Midwestern United States. The state's capital is Lincoln and its largest city is Omaha, on the Missouri River....
. The company is headquartered in Ankeny, Iowa
Ankeny, Iowa
Ankeny is a city in Polk County, Iowa, United States. The population was 45,562 in the 2010 census, an increase of 68% from the 27,117 population in the 2000 census. It is part of the Des Moines–West Des Moines Metropolitan Statistical Area.-History:...
.
History
In 1959 Donald Lamberti leased a service stationFilling station
A filling station, also known as a fueling station, garage, gasbar , gas station , petrol bunk , petrol pump , petrol garage, petrol kiosk , petrol station "'servo"' in Australia or service station, is a facility which sells fuel and lubricants...
in Des Moines, Iowa
Des Moines, Iowa
Des Moines is the capital and the most populous city in the US state of Iowa. It is also the county seat of Polk County. A small portion of the city extends into Warren County. It was incorporated on September 22, 1851, as Fort Des Moines which was shortened to "Des Moines" in 1857...
from his father. After successfully remodeling the station into a convenience store and operating it for nine years, his gasoline supplier and friend, Kurvin C. (K.C.) Fish, suggested that he purchase the Square Deal Oil Company, a service station available for sale in Boone, Iowa
Boone, Iowa
Boone is a city in and the county seat of Des Moines Township, Boone County, Iowa, United States. It is the principal city of the 'Boone, Iowa Micropolitan Statistical Area', which encompasses all of Boone County. This micropolitan statistical area, along with the 'Ames, Iowa Metropolitan...
. Lamberti followed Fish's advice and purchased the station, which he renamed "Casey's" after Fish and as with his leased store converted the station into a convenience store. The logo on the Boone store is the same logo used today by the Casey's chain.
The Boone store (located in a town of only 12,500) did well, so Lamberti decided to see if he could duplicate his success. He purchased another store in Creston, Iowa
Creston, Iowa
Creston is a city in and the county seat of Union County, Iowa, United States. The population was 7,597 at the 2000 census. McKinley Lake lies within a large, multi-purpose municipal park within the city limits, and three additional recreational lakes are located within seven miles of Creston:...
(population 7,000) and that store did well also. Lamberti became more ambitious and decided to open a store from scratch in the even smaller town of Waukee, Iowa
Waukee, Iowa
As of the census of 2000, there were 5,126 people, 1,927 households, and 1,445 families residing in the city. The population density was 610.9 people per square mile . There were 2,087 housing units at an average density of 248.7 per square mile...
(population 1,500 at the time). The Waukee store proved to be the most successful of the three, so Lamberti decided to purchase and open more stores, concentrating on towns of less than 5,000 population (a variation on the tactic used in the early success of Wal-Mart
Wal-Mart
Wal-Mart Stores, Inc. , branded as Walmart since 2008 and Wal-Mart before then, is an American public multinational corporation that runs chains of large discount department stores and warehouse stores. The company is the world's 18th largest public corporation, according to the Forbes Global 2000...
).
By the late 1970s (when Casey's opened its first warehouse) the chain had 118 stores, including the original store operated by Lamberti's parents which entered the Casey's fold in 1977.
In 1982 Casey's opened its first Distribution Center in Urbandale, Iowa
Urbandale, Iowa
Urbandale is a city in Polk and Dallas counties in the U.S. state of Iowa. As of the 2000 census, the city population was 29,072; a special census taken by the city in 2005 counted 35,904 residents and the United States Census Bureau estimated that 38,369 residents lived there in 2008...
.
Casey's became a publicly traded company in October, 1983, with an initial public offering of 700,000 shares. Around this time Casey's began to sell doughnuts in its stores; in December 1984 it introduced pizza into its stores (which is one of its signature items today).
In 1990 Casey's moved to its current facility in Ankeny.
Casey's 1,000th store opened in Altoona, Iowa
Altoona, Iowa
Altoona is a city in Polk County, Iowa, United States and is a part of the Des Moines–West Des Moines Metropolitan Statistical Area. The population was 15,583 at the 2010 census; a special census taken in August 2005 counted 13,301 residents....
in 1996, the same year Casey's exceeded US$1 billion in annual sales.
In January 2006, Casey's purchased Lincoln, Nebraska
Lincoln, Nebraska
The City of Lincoln is the capital and the second-most populous city of the US state of Nebraska. Lincoln is also the county seat of Lancaster County and the home of the University of Nebraska. Lincoln's 2010 Census population was 258,379....
-based Gas 'N Shop. On August 7, 2006, Casey's agreed to purchase the 33-store HandiMart chain, based in Cedar Rapids, Iowa
Cedar Rapids, Iowa
Cedar Rapids is the second largest city in Iowa and is the county seat of Linn County. The city lies on both banks of the Cedar River, north of Iowa City and east of Des Moines, the state's capital and largest city...
, in a $63 million deal.
In March 2010, Alimentation Couche-Tard
Alimentation Couche-Tard
Alimentation Couche-Tard Inc. or simply Couche-Tard is one of the largest company-owned convenience store operators in the world with up to 6,000 stores across Canada, the United States, Mexico, Japan, China, Indonesia and Guam....
(operator of several convenience store chains, including Circle K
Circle K
Circle K is an international chain of convenience stores, founded in 1951, in El Paso, Texas, United States. It is owned and operated by the Canadian-based Alimentation Couche-Tard.-Overview:...
offered $1.9 billion for control of the company, and later announced a proxy fight
Proxy fight
A proxy fight or proxy battle is an event that may occur when a corporation's stockholders develop opposition to some aspect of the corporate governance, often focusing on directorial and management positions. Corporate activists may attempt to persuade shareholders to use their proxy votes A proxy...
for control. Casey's rejected Couche-Tard's offer and was successful in September 2010 in retaining its board of directors vs. Couche-Tard's nominated slate.
While Casey's and Couche-Tard were battling for company control, in September 2010, 7-Eleven
7-Eleven
7-Eleven is part of an international chain of convenience stores, operating under Seven-Eleven Japan Co. Ltd, which in turn is owned by Seven & I Holdings Co...
offered a $2 billion bid for control of the company. Casey's and 7-Eleven engaged in discussions, but in November 2010 elected not to proceed with a merger.
Recent expansions
In the latter half of 2010, Casey's purchased all or parts of three smaller chains:- On October 12, 2010, Casey's announced the planned purchase of 19 "On The Way" stores in Illinois owned by Harper Oil Company, to be completed by November 2010 (Harper retained other stores and the On The Way name)
- On October 28, 2010, Casey's announced the purchase of six "Short Stop" stores in Iowa owned by J.D. Carpenter Companies, Inc.
- On November 3, 2010, Casey's announced the purchase of 44 "Kabredlo's" stores. The purchase, expected to be completed by December 2010, would include 22 stores in Nebraska, 21 in Kansas, and the first Casey's location to operate in the state of Oklahoma.
- On March 28, 2011, a Casey's General Store opened in Bella Vista, Arkansas (a few miles south of the Missouri state line), the chain's first store to operate in that state.
- Casey's further solidified its Iowa base in June, 2011 with the announced purchase of twenty-two Kum & GoKum & GoKum & Go is a convenience store chain primarily located in the Midwestern United States. The company, based in West Des Moines, Iowa, operates over 400 stores in 11 states—primarily in its home state of Iowa. Kum & Go was ranked as the 23rd-largest convenience store chain in the United States by...
stores in the Hawkeye state, bringing its total Iowa store number to 473. At least for the time being, the Kum & Go stores will remain in the current buildings but be rebranded with signage.
Casey's today
As of June, 2011, Casey's has 1,644 stores. Casey's currently operates in the following states, most of which are in the Midwestern United StatesMidwestern United States
The Midwestern United States is one of the four U.S. geographic regions defined by the United States Census Bureau, providing an official definition of the American Midwest....
:
- South DakotaSouth DakotaSouth Dakota is a state located in the Midwestern region of the United States. It is named after the Lakota and Dakota Sioux American Indian tribes. Once a part of Dakota Territory, South Dakota became a state on November 2, 1889. The state has an area of and an estimated population of just over...
(37 stores) - NebraskaNebraskaNebraska is a state on the Great Plains of the Midwestern United States. The state's capital is Lincoln and its largest city is Omaha, on the Missouri River....
(127 stores) - KansasKansasKansas is a US state located in the Midwestern United States. It is named after the Kansas River which flows through it, which in turn was named after the Kansa Native American tribe, which inhabited the area. The tribe's name is often said to mean "people of the wind" or "people of the south...
(133 stores) - MinnesotaMinnesotaMinnesota is a U.S. state located in the Midwestern United States. The twelfth largest state of the U.S., it is the twenty-first most populous, with 5.3 million residents. Minnesota was carved out of the eastern half of the Minnesota Territory and admitted to the Union as the thirty-second state...
(98 stores) - IowaIowaIowa is a state located in the Midwestern United States, an area often referred to as the "American Heartland". It derives its name from the Ioway people, one of the many American Indian tribes that occupied the state at the time of European exploration. Iowa was a part of the French colony of New...
(473 stores) - MissouriMissouriMissouri is a US state located in the Midwestern United States, bordered by Iowa, Illinois, Kentucky, Tennessee, Arkansas, Oklahoma, Kansas and Nebraska. With a 2010 population of 5,988,927, Missouri is the 18th most populous state in the nation and the fifth most populous in the Midwest. It...
(299 stores) - WisconsinWisconsinWisconsin is a U.S. state located in the north-central United States and is part of the Midwest. It is bordered by Minnesota to the west, Iowa to the southwest, Illinois to the south, Lake Michigan to the east, Michigan to the northeast, and Lake Superior to the north. Wisconsin's capital is...
(10 stores) - IllinoisIllinoisIllinois is the fifth-most populous state of the United States of America, and is often noted for being a microcosm of the entire country. With Chicago in the northeast, small industrial cities and great agricultural productivity in central and northern Illinois, and natural resources like coal,...
(400 stores) - IndianaIndianaIndiana is a US state, admitted to the United States as the 19th on December 11, 1816. It is located in the Midwestern United States and Great Lakes Region. With 6,483,802 residents, the state is ranked 15th in population and 16th in population density. Indiana is ranked 38th in land area and is...
(65 stores) - OklahomaOklahomaOklahoma is a state located in the South Central region of the United States of America. With an estimated 3,751,351 residents as of the 2010 census and a land area of 68,667 square miles , Oklahoma is the 28th most populous and 20th-largest state...
(1 store) - ArkansasArkansasArkansas is a state located in the southern region of the United States. Its name is an Algonquian name of the Quapaw Indians. Arkansas shares borders with six states , and its eastern border is largely defined by the Mississippi River...
(1 store)
The store counts above include the purchases mentioned above.