April 24, 2023

Iowa-based Kum & Go, which has eight locations in Sioux Falls, is getting a new owner.

Utah-based Maverik – Adventure’s First Stop is buying Kum & Go, a family-owned convenience store chain with over 400 locations in 13 states, from the Krause Group. Maverik also will acquire Solar Transport, a tank truck carrier and logistic provider owned by the Krause Group.

“We have long admired the Kum & Go brand,” Chuck Maggelet, president and chief Adventure guide of Maverik, said in a news release. “Kyle and Tanner (Krause, the father-and-son leaders of Kum & Go) and the generations before them have built an exceptional business that pairs quality with convenience and puts people first. We are honored to carry their legacy forward as we build on Kum & Go’s strong operating and innovation capabilities and expand our adventurous convenience experience. We look forward to welcoming Kum & Go and Solar Transport associates and stores to Maverik – Adventure’s First Stop.”

The news release did not say whether Kum & Go will be rebranded as Maverik.

“This is the most momentous day in the 63-year history of our family business,” said Tanner Krause, president and CEO of Kum & Go. “My family has worked for four generations to create and build Kum & Go into a business that has done an incredible amount of good for our people, for Iowa and beyond. Serving as president for the past five years has been the fulfillment of my lifelong dream. I’ve had the pleasure of knowing Chuck Maggelet for years and hold a lot of respect for him as a person and a business leader. I’m confident the Maggelets and Maverik will be good stewards of Kum & Go’s people and culture for generations to come.”

Krause Group’s other holdings include Italian wineries and hospitality, real estate, agriculture and soccer clubs, according to its website.

The transaction is expected to close in the coming months and is subject to customary closing provisions. Financial terms were not disclosed.

Maverik — Adventure’s First Stop has nearly 400 sites across 12 western states, making it the largest independent fuel marketer in the Intermountain West, the company said. Locations are in Arizona, California, Colorado, Idaho, New Mexico, Nebraska, Nevada, Oregon, South Dakota, Utah, Washington and Wyoming. The two locations in South Dakota are in Rapid City.