FTC Orders Casey’s to Sell 6 Stores After Bucky’s Purchase

Published by Derek Noehren on Tue, 06/15/2021 - 4:00am

The former Bucky’s gas station just north of Highway 370 on 72nd Street in Papillion, now branded Speedee Mart, is one of six stores that was sold by Casey’s General Stores Inc. after a Federal Trade Commission consent order. (Scott Stewart/Daily Record)

Scott Stewart

The Daily Record

The Federal Trade Commission ordered Casey’s General Stores Inc. to divest several gas stations in the Omaha metropolitan area market after a complaint alleged the chain’s acquisition of Bucky’s would violate federal antitrust law.

The FTC announced last week that, following a public comment period, it had approved a final order settling the charges for Casey’s deal to acquire Buck’s Intermediate Holdings LLC. The complaint was first announced in April.

Casey’s had to sell three Casey’s outlets and three Bucky’s outlets to Western Oil II, LLC and its affiliate Danco II, LLC within 10 days of the acquisition.

The gas stations slated to be sold are the Bucky’s at 11400 S. 72nd St. in Papillion, 6003 Center St. in Omaha and 2901 N. 72nd St. in Omaha as well as the Casey’s at 2301 S. 24th St. in Council Bluffs, 1202 S. 13th St. in Omaha and 5120 S. 118th St. in Omaha.

The parties are required to provide the FTC notice before acquiring retail fuel assets within a fixed distance of any Casey’s outlet in a market involving a divestiture for 10 years, according to a news release. The commission vote to approve the final order was 4-0.

In a news release announcing the closing of the deal to acquire Bucky’s Convenience Stores — which includes Buchanan Energy and other corporate entities and limited liability companies — said the deal “marks the most significant transaction in Casey’s 52-year history.” It is part of the company’s goal of adding 345 stores to its chain over three years.

Casey’s said the order “will not materially alter the expected financial impact of the transaction as previously disclosed.”

“We are pleased to complete this transaction and welcome the Bucky’s team to the Casey’s family,” Darren Rebelez, president and CEO of Casey’s, said in the news release. “Steve Buchanan and his team have built up an extremely successful business, and Casey’s is excited to bring our hand-made pizza program to these well located, high volume stores.”

The company also announced it will buy 49 stores throughout Oklahoma from Circle K Stores Inc.

Casey’s now operates more than 2,300 convenience stores. The company is fourth-largest convenience store retailer and the fifth-largest pizza chain in the country.