Yesway acquires 5 Ranglers c-stores in Texas

Dive Brief:

Yesway has acquired Ranglers, a five-store convenience retailer with locations in Clifton, Hamilton and Hico, Texas, according to a Tuesday press release.
In addition to the acquisition, the fast-growing convenience chain has opened five new Allsup’s locations in Abilene, Snyder, Whitney and Springtown, Texas, as well as Ruidoso, New Mexico.
This announcement comes less than a month after Yesway announced $190 million in fundraising for new construction this year.

Dive Insight:

Yesway expects to open 28 new stores this year, mostly paid for with the $190 million it recently raised, as part of its continuing growth strategy, according to the announcement.

In the past year, the company also acquired nine Tres Amigos stores in Texas, debuted a new Allsups Express concept and opened a number of new locations in Texas and New Mexico. That growth pushed Yesway closer to its previously stated goal of 500 locations.

“We’re thrilled to begin 2023 with more exciting expansion news to share and look forward to bringing our brand of service and hospitality to more communities,” said Tom Trkla, chairman, president and CEO of Yesway. “I am so proud of our team for making this accelerated pace of growth possible.”

As Yesway incorporates Ranglers into the company, it will be remodeling the stores and rebranding them to either Yesway or Allsup’s, although it plans to retain some of the interior look and merchandise mix customers are used to from those locations. Some of the acquired Ranglers locations have QSRs on site, such as Pizza Inn, Quiznos and Cowboy Kitchen.

Meanwhile, the five newly built locations are larger format, with between 5,630 and 6,277 square feet of merchandising space, as well as between 16 and 24 gas pumps, along with diesel. They will also offer expected amenities such as burritos at the Allsup’s locations, as well as private-label items, a beer cave and staples like bread, milk and eggs.

Fort Worth, Texas-based Yesway operates 435 stores in Texas, New Mexico, South Dakota, Iowa, Kansas, Missouri, Wyoming, Oklahoma and Nebraska. It focuses on rural and suburban markets in the Midwest and Southwest, where it seeks to be a local grocer for its customers. The retailer was founded in 2015.