Dive Brief:
- Fast Stop of Louisiana has acquired three c-stores in Iowa, marking the company’s entry into that state, according to a LinkedIn post from Jeff Knapp, president of real estate investment firm Knapp Group, which assisted with the transaction.
- The Baton Rouge, Louisiana-based retailer now operates 57 locations in Iowa, Louisiana and New Mexico, according to its website. Its first three Iowa stores are in Elkader and Garnavillo, in the northeastern part of the state.
- The roughly decade-old company has been focused on growth this year, increasing its c-store network from fewer than 50 to 57 locations in the past few months while their CEO looks to develop related businesses.
Dive Insight:
Fast Stop’s latest acquisition will give the retailer an opportunity to introduce its Southern foodservice program to the Midwest. Its menu includes comfort foods like po boys, fried chicken and seafood.
The company did not disclose the seller or the sale price.
“Our entry into the Midwest reflects Fast Stop’s long-term commitment to serving communities across new markets,” said Mahmoud Ziadeh, CEO of Fast Stop. “We’re excited to bring our high-quality fuel, fresh food offerings, and friendly service to customers in Iowa and continue building on our strong foundation.”
One of Fast Stop’s competitors in Iowa will be another fuel and convenience retailer named Fast Stop that operates locations throughout the state.
The company will continue to look for M&A opportunities as well as explore the potential for new builds, according to the post.
This news comes nearly two months after Ziadeh bought nine QSR locations, which he plans to use to bring Fast Stop’s menu to a restaurant setting. Ziadeh also has ownership stakes in Louisiana sit-down establishments Tap 65 and Bianka.
This continues a busy past week for c-store M&A. Other deals include Mega Saver agreeing to buy 29 Yesway locations, The Kent Companies buying 15 stores in Louisiana and Alimentation Couche-Tard putting 35 c-stores up for sale.
