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Springfield Kum & Go stores won’t be rebranded after the company’s buyout by Utah-based Maverik Inc.
The buyout was completed on Aug. 29, Chuck Maggelet, Maverik chief executive officer, said in a press release. Kum & Go has a strong foothold in the Ozarks, with 33 locations in Springfield, Taylor Boland, the chain’s director of communications, said in an email. That means Springfield accounts for more than half of Kum & Go’s Missouri footprint.
“Right now, we think we can bring a lot of what’s really good about Maverik into the Kum & Go world without necessarily rebranding and will continue to evaluate future changes,” Maggelet said.
He noted Kum & Go stores in Utah, Colorado, Idaho and Wyoming, where the purchaser already has a strong brand presence, will be converted to Maverik stores beginning in January.
The reach of Maverik, whose parent is the private holding company FJ Management Inc., is already vast. The purchase of 400-plus Kum & Go stores nearly doubles its footprint, Axios reported. Nether Maverik nor the seller, Krause Group, disclosed the amount of the sale, but Reuters earlier reported the deal to value as much as $2 billion.
The sale included a tank truck carrier company, Solar Transport, from Krause. An undisclosed number of groups made offers on Kum & Go, which employs roughly 5,000 people and was founded 64 years ago.