Report: Casey’s bidding for Kroger’s convenience stores
Ankeny, Iowa-based Casey's General Stores is bidding for The Kroger Co.’s $2 billion convenience store business, according to CNBC.
The report stated that Casey’s is under pressure from activist investor JCP Investment Management, which is calling for the convenience store operator to explore strategic alternatives. Buying Kroger's convenience store business could stave off pressure to sell, CNBC reported. Cincinnati-based Kroger announced in October it was exploring strategic alternatives for its more than 780 convenience stores, which operate under names such as Kwik Shop, Turkey Hill and Tom Thumb.
See CNBC’s story here.