Casey’s buys Oklahoma convenience chain ASAP Energy

Casey’s General Stores has agreed to acquire select assets of Oklahoma-based convenience retailer and fuel distributor ASAP Energy, including its 20 convenience stores, wholesale and commercial fuels and lubricants businesses, and other related assets. The deal follows Casey’s recent purchase of 24 locations from Texas-based Pak-A-Sak in early August, marking its second acquisition of 20 or more stores this summer as the retailer advances its plan to add at least 400 locations over the next three years.

The purchase expands Casey’s footprint in Oklahoma, where the retailer had nearly 150 locations as of this summer. With the new locations, Casey’s approaches 3,000 convenience stores in the U.S.—a milestone only surpassed by 7-Eleven and Circle K. The deal does not include ASAP’s Lucille’s Hotel, Lucille’s Restaurants, Ricks Boots and Outfitters, or its Centurion Land Development arm. A closing date for the transaction has not been announced.

Casey’s described the acquisition as a strategic fit, noting that the mix of high-quality convenience retail stores and wholesale and commercial fuels and lubricants businesses aligns with its growth strategy. The retailer has combined organic expansion with bolt-on acquisitions to accelerate store growth.

ASAP Energy, founded in 1979, is the latest independent retailer to exit the industry. Owners Rick and Sheila Koch said the decision to sell aims to provide employees with more opportunities for professional growth and long-term success. “We believe Casey’s can provide those opportunities,” they said. “Casey’s is a company where people can build long, rewarding careers, and we see this as an incredible opportunity for our team members to grow alongside a thriving brand.”