Dive Brief:
- Love’s Travel Stops & Country Stores has acquired 22 EZ GO convenience stores from Carey Johnson Oil Co. for an undisclosed amount, according to a Wednesday announcement.
- The purchase includes six travel stops on Oklahoma turnpikes, five on the Kansas turnpike and 11 c-stores in Oklahoma and Nebraska — all of which will be rebranded to Love’s within the next year, according to the announcement. Love’s also will gain 400 new employees as part of the deal.
- Love’s latest acquisition comes alongside the Oklahoma City-based retailer’s current goal to open 25 new stores in 2023, as well as invest $1 billion into remodeling locations over the next handful of years.
Dive Insight:
By acquiring EZ GO’s store network, Love’s will have its first locations on a turnpike, which aligns with the company’s commitment to adding stores in high-demand areas, according to the announcement.
“The opportunity to expand into serving commercial and casual customers on the two state turnpikes supports our strategic priority of pursuing adjacent acquisition opportunities,” Shane Wharton, president of Love’s, said in the announcement.
EZ GO’s turnpike locations include parking, diesel and diesel exhaust fluid. Inside the stores, consumers can purchase fresh food and groceries, beverages, snacks, tobacco, dispensed beverages and more. Many EZ GO stores are co-located with franchised food concepts, such as McDonalds, Hardee’s or Pizza Hut. Two stores include the company’s proprietary Back Forty Barbecue.
Founded in 1963 with six service stations in Lawton, Oklahoma, Carey Johnson Oil eventually expanded its business to c-stores and opened its first EZ GO site in 1980.
Love’s Travel Stops & Country Stores owns more than 610 locations in 42 states, as well as 430 truck repair locations, and has more than 39,000 employees.
