One of Newton’s most highly visible convenience stores has a new owner — and, later this week, it will have a new name.
The Kum & Go store located at 401 First Ave. E. is one of 21 stores being sold by Kum & Go to a different company to become Yesway locations. In a recent news release, BW Gas & Convenience Holdings, part of a Massachusetts-based national private investment firm, announced it’s acquiring 21 Iowa stores from Kum & Go, none of which are in any of the state’s largest cities.
The Newton store will be closed Wednesday to take care of many of the major transition items associated with the changeover.
The 21-store acquisition will give Yesway a total of 31 stores, all in Iowa. Three stores involved are in Mason City. Some of the other Kum & Go stores that have changed or are changing to Yesway are in Fort Dodge, Webster City, Waterloo, Clarion, Story City, Belmond, Ottumwa, Centerville, Elkhorn, Harlan, Walnut, Audubon, Missouri Valley, Manilla and Logan.
BW Gas & Convenience is an affiliate of Brookwood Financial Partners, LLC, a private equity investment firm. The firm plans to acquire between 600 and 1,000 convenience stores throughout the U.S. over the next several years and plans BW Gas & Convenience plans to spend about $6.7 million to completely upgrade and remodel its stores.
Under the direction of Brian Trout, Yesway’s Senior Vice President of Operations, Yesway will be improving the merchandise mix, and customers will soon be able to enjoy a new loyalty program.
“The new exterior and interior store design will enhance the overall appeal of the stores and enable us to offer a fresh experience for consumers in the Iowa region,” said Trout. “Customers will enjoy redesigned stores that are true to our brand tenets, which are to be user-friendly, inviting and efficient. Over the years, the previous owners have established a loyal and reliable customer base, and we look forward to continuing to serve them in their respective local communities.”
Yesway also plans to open a cooperate headquarters in West Des Moines this month.
“The launch of Yesway marks the beginning of an exciting new branding venture for BW Gas & Convenience,” said Thomas Nicolas Trkla, Yesway’s Chairman and Chief Executive Officer.
Trout said it’s important the Yesway brand continues the success and positive reputation he feels Kum & Go established in Iowa.
“Yesway is committed to serving our customers and providing them with a terrific shopping experience,” Trout said. “We look forward to expanding our brand in the Midwest and becoming an integral part of the communities we serve.”
Contact Jason W. Brooks at 641-792-3121 ext. 6532 or jbrooks@newtondailynews.com