Nearly two years ago, C-Store Dive reported that Yesway intended to sell its convenience stores in Iowa and Kansas after determining the locations no longer fit its strategy. At the time, Yesway said the sites would be sold by the end of 2025.
That June, C-Store Dive reported that Nebraska-based Mega Saver was in talks to acquire the locations. In early November, a Mega Saver spokesperson confirmed that the retailer had officially agreed to acquire the stores. Employees at some of the locations even told C-Store Dive that rebranding dates had already been set.
The deal for more than two dozen stores in a key region seemed done. The only question left appeared to be when it would close, with Yesway seemingly on track to meet its targeted timeline.
But the process dragged on into 2026. Even when Yesway went public in April, the sale of its Iowa and Kansas stores had yet to be finalized.
Then last month, Yesway announced that it had officially sold the locations for $21 million, marking the divestiture of most of its convenience stores in the Midwest.
But Yesway surprised many when it announced that Texas-based Now & Forever, not Mega Saver, was the buyer. The change raised questions about when and why the transaction shifted buyers.
Representatives from Mega Saver did not respond to multiple requests to comment on what happened to its agreement with Yesway. A Yesway spokesperson declined to comment, citing the company’s quiet period.
Executives from Now & Forever, however, shared their account of how the company pursued the stores and ultimately secured the acquisition.
A failed deal with a new buyer
It remains unclear exactly when Yesway’s first agreement fell apart. Yesway outlined in a series of filings between February and April with the Securities and Exchange Commission that it had agreed to sell the locations to an undisclosed buyer for $17.5 million plus inventory.
If Yesway was still referring to its deal with Mega Saver, the agreement appeared to have fallen apart by early summer, though the exact timing and reasons are unclear.
Shayan Farooqi, CEO and co-founder of Khawar & Sons, Now & Forever’s parent company, said it was during that period when he learned that the earlier agreement might be in trouble. That information prompted him to pursue the locations, he said.
"We identified the Yesway sites in June and upon learning Mega Saver may not close, started to aggressively pursue the acquisition,” said Farooqi.
He soon after learned that the agreement “fell apart,” meaning Yesway was no longer under contract with Mega Saver.
“We were told by the brokers that the deal was no longer in contract and they were taking bids,” he said.
Now & Forever entered a bidding process for the 29 locations, Farooqi said. He said he was not told who the other prospective buyers were because of confidentiality restrictions, and that he offered Yesway $1 million within a week of signing the purchase agreement.
“We were told by the brokers that the deal was no longer in contract and they were taking bids."
Shayan Farooqi
CEO and co-founder of Khawar & Sons, Now & Forever’s parent company
Komal Farooqi, Khawar & Sons’ chief brand officer and Shayan Farooqi’s sister, said she was one of the first Now & Forever team members on the ground during the initial surveys of these locations after her brother suggested acquiring them.
The retailer, which has only had about 20 c-stores in Texas up until now, spent the fourth quarter of 2025 and the first half of 2026 touring potential acquisition targets across the country, she added. The Yesway stores stood out because of their established operations, trained employees and loyal customers.
With the deal, Now & Forever has now more than doubled its store count and moved into two new states and an entire new region of the country.
“We’re stepping into a well-kept ecosystem and adding our own touches,” Komal Farooqi said. “That means a fast, organized handover and a rollout that new communities and travelers will experience firsthand.”
