Casey's Signs Definitive Agreement to Acquire HandiMart.ANKENY, Iowa -- Casey's General Stores Casey's General Stores, Inc. NASDAQ: CASY is a chain of convenience stores in the Midwestern United States, primarily within the states of Iowa, Illinois, and Missouri. The company is headquartered in Ankeny, Iowa. , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :CASY CASY Chemical Agent Storage Yard ) today announced that it has signed a definitive purchase agreement to acquire up to 33 convenience stores from Nordstrom Oil Company of Cedar Rapids, Iowa. All of the stores are located in Iowa and operate under the HandiMart banner. For their fiscal year ended November 30, 2005 the stores generated total sales of approximately $174 million. "The acquisition of the HandiMart locations is an excellent fit with our acquisition strategy and further strengthens our existing market presence in Iowa," said Robert J. Myers Robert J. Myers is the Executive Director of the Association for Business Communication. He has held this position since 1994. The Association for Business Communication (ABC) is the primary academic organization for the field of business communication scholarship, research, , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "They are high volume stores in excellent locations." Mr. Myers continued, "We expect this acquisition to be immediately accretive to earnings and provide further earnings enhancements as we realize operating efficiencies and add our prepared food program." The acquisition is subject to certain regulatory approvals and other customary closing conditions. The purchase price for these locations is approximately $63 million. The transaction is expected to close during the Company's second fiscal quarter and will be funded by existing cash and debt financing. |
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