M&A
confidence high
sentiment positive
materiality 0.75
Casey's closes acquisition of 40 Pilot stores in Knoxville; credit facility amended for $150M
CASEYS GENERAL STORES INC
- Acquired 40 convenience stores from Pilot Corporation in Knoxville, TN market.
- Part of three-year strategic plan goal to add 345 stores (set Jan 2020).
- Credit agreement amended to allow up to $150M in new term loans and lower LIBOR rate floor.
- No material changes to covenants or defaults; amendment details in Exhibit 10.1.
- Company expects to bring hand-made pizza program to acquired stores.