Now & Forever buys Yesway’s Midwest stores for $21 million

Yesway has sold its 29-store convenience retail network in Iowa and Kansas to Texas-based Now & Forever for $21 million, including inventory, according to a Thursday announcement. The deal finalized a long-planned exit from the Midwest region, though the buyer shifted unexpectedly from the previously announced Mega Saver.

The portfolio includes 22 stores in Iowa and 7 in Kansas, expanding Now & Forever’s footprint beyond its current 20 Houston-area locations. The acquisition more than doubles its store count and extends its operations into two new states, marking an unusual regional expansion for a retailer of its size. The retailer now operates around 420 convenience stores across eight states, including its first location in Arizona, which opened this month.

The sale had been in progress for 18 months, with Yesway first signaling its intent to divest these locations in February 2025. At the time, a company spokesperson stated the stores did not align with its strategic priorities. By June 2025, employees at multiple sites confirmed talks with Mega Saver, and rebranding dates were reportedly set. Mega Saver had already expanded in the region that summer, acquiring over two dozen former Kum & Go sites in Iowa and South Dakota from Maverik.

Last November, Mega Saver confirmed it had agreed to purchase the Yesway locations. However, nearly a year later, the deal had still not closed when Now & Forever stepped in as the buyer.

For Yesway, the sale advances its strategy of reinvesting capital into higher-return opportunities. The company plans to use the proceeds to strengthen its balance sheet and fund its goal of opening 130 new convenience stores over the next five years. Tom Trkla, Yesway’s chairman, president, and CEO, stated in the announcement that the transaction reflects a focus on deploying capital where it can generate the greatest long-term value.

Convenience retailers often expand incrementally, but Now & Forever’s move into Iowa and Kansas represents a significant leap. Yesway’s exit from the Midwest clears space for its expansion plans, while Now & Forever gains a substantial presence in two new markets.