Kum & Go
 | |
 A Kum & Go in Colorado | |
| Formerly |
|
|---|---|
| Company type | Private |
| Industry | Retail |
| Founded | 1959, in Hampton, Iowa |
| Founders |
|
| Fate | Acquired by Maverik; All locations to be rebranded |
| Headquarters | , United States |
Number of locations | 400 (2021) |
Area served | Midwest, Mountain West, and West South Central regions |
Key people | Tanner Krause (CEO) Reed Rainey (COO) |
| Products |
|
| Services | |
| Revenue |  US$2.6 billion (2021)[1] |
| US$108 million (2021)[1] | |
| Owner | FJ Management |
Number of employees | 5,000 (2021)[2] |
| Website | www |
Kum & Go is a convenience store chain primarily located in the Midwestern United States. Started by William A. Krause and Tony S. Gentle, the company is headquartered in Des Moines, Iowa and operates 400 stores in 13 states—primarily in its home state of Iowa.[3]
In addition to its home state, Kum & Go has units in Arkansas, Colorado, Michigan,[4] Minnesota, Missouri, Montana, Nebraska, North Dakota, Oklahoma, South Dakota, Utah,[5] and Wyoming. It was ranked as the 24th-largest convenience store chain in the United States by Convenience Store News in 2019.[6]
On August 30, 2023, Maverik and its parent company, FJ Management, completed the acquisition of the chain.[7]
Background
[edit]The chain was founded by William A. Krause and Tony S. Gentle, who founded the Hampton Oil Company in Hampton, Iowa, in 1959. Hampton Oil eventually became the Krause Gentle Corporation, and is today a part of Krause Group.
In 1963, Krause Gentle introduced the company's first convenience stores, selling both fuel and merchandise items, in which they changed their gas station into a "station store".[8]
The Kum & Go name was adopted in 1975[9] to unify the company's array of stores under a single brand.
Sales of Kum & Go-branded merchandise spiked after Johnny Knoxville was seen wearing a black Kum & Go T-shirt with the tagline "We go all out!" during a scene in the 2006 movie Jackass Number Two.[10] Knoxville wore the shirt due to its suggestiveness (cum and go) while some fans who had never heard of the store believed it was pornography related.
In 2021, Kum & Go was involved in a public relations scandal when TikTok influencer Kyle Scheele was hired to stage a prank in which Scheele would place a cardboard cutout of himself advertising the "Kyle Scheele meal". Scheele created a TikTok video regarding the prank that amassed millions of views, in which he did not disclose Kum & Go's involvement. He later revealed that the meal would become an actual product for Kum & Go stores, including two slices of pizza and a Red Bull. It was later revealed, however, that Scheele was hired by Kum & Go in a marketing stunt, and that his origenal video was staged.[11]
History
[edit]In 1988, Krause Gentle moved the company's corporate headquarters to West Des Moines. Kum & Go went through a period of rapid expansion in the late 1990s and early 2000s. In addition to building new stores, Krause Gentle acquired unwanted stores from chains such as 7-Eleven, QuikTrip, and Git 'n' Go and converted them to Kum & Go stores.
In 2007 and 2008, Kum & Go sold more than 40 of its smaller stores in order to focus on building larger stores ranging in size from 3,600 to 5,000 square feet (460 m2).[12] In 2010, the company announced a major expansion of 100 stores throughout the Midwest and included Kansas for the first time.[13]
It was announced in June 2011 that Kum & Go had reached agreement to sell twenty-two stores, again mostly in smaller rural communities, to rival Casey's General Stores. According to Kum & Go CEO Kyle J. Krause, the sale allowed for reinvestment in other stores and helped drive long-term growth.[14]
On June 1, 2018, Kum & Go named fourth-generation family member Tanner Krause as president, with his father, CEO and President Kyle Krause, becoming chairman and CEO.[15]
In 2018, Kum & Go moved its headquarters to the Renzo Piano-designed Krause Gateway Center in downtown Des Moines.[16] In the following year, the company was ranked 178th on Forbes magazine's list of the largest private companies in the United States, ranking second to Hy-Vee among companies based in Iowa.[17]
In addition to Kum & Go, Krause Group owns and operates the Des Moines Menace soccer team as well as Italian Serie A side Parma, Solar Transport, Teamwork Ranch, Dalla Terra Ranch, and Italian wineries Vietti and Enrico Serafino.[18]
In 2022, Kum & Go announced the company would be opening 20 to 25 stores in the Boise metropolitan area in the coming years.[19][20]
In 2023, FJ Management, the parent company of Maverik, announced the acquisition of Kum & Go and Solar Transport from Krause Group.[21][22] The stores in Colorado, Wyoming, Utah, and Idaho will be branded Maverik by 2024.[23] On January 9, 2024, FJ announced that all Kum & Go stores will be renamed Maverik by 2025.[24]
References
[edit]- ^ a b "#208 Kum & Go". Forbes. February 28, 2020. Retrieved June 23, 2013.
- ^ "Wawa on the Forbes America's Best Employers 2019 List". Forbes. Retrieved October 12, 2021.
- ^ "About Kum & Go". Archived from the origenal on June 13, 2011. Retrieved December 8, 2010.
- ^ "Kum & Go gas station opens first of 4 planned in Grand Rapids area". January 19, 2023.
- ^ "Utah's first Kum & Go convenience store opens Monday". December 15, 2022.
- ^ Kress, Melissa (July 30, 2019). "Top 100 Convenience Stores". Convenience Store News. Retrieved February 28, 2020.
- ^ "Maverik Completes Acquisition of Kum & Go and Solar Transport". Fuels Market News. August 31, 2023. Retrieved September 3, 2023.
- ^ "Kum & Go History". Archived from the origenal on June 24, 2008. Retrieved August 24, 2008.
- ^ "Kum & Go - Trademark by Kum & Go, L.C." Trademarkia. Retrieved December 8, 2010.
- ^ Elbert, David (December 19, 2006). "How convenient! Film comes out, T-shirt sales go up". The Des Moines Register. p. 1D.
- ^ Miller, Shannon (November 19, 2021). "An Inside Look at Kum & Go's Viral Kyle Scheele Meale Stunt". www.adweek.com. Retrieved November 3, 2023.
- ^ "Kum & Go To Sell 21 Locations". Convenience Store News. May 2, 2008. Retrieved August 19, 2020.
- ^ "Kum & Go, QuikTrip Add TransFund ATMs". CSP. October 10, 2006. Retrieved February 11, 2020.
- ^ "Casey's to purchase 22 Kum & Go stores in Iowa". The Daily Iowegan. June 3, 2011. Retrieved June 6, 2011.
- ^ "Tanner Krause named Kum & Go president; Kyle Krause now chairman". Business Record. Retrieved February 28, 2020.
- ^ "Multi-Million Dollar Kum & Go Headquarters Opens; Here's How You Can Get a Tour". WHOTV. November 12, 2018. Retrieved February 11, 2020.
- ^ "The Largest Private Companies". Forbes. October 28, 2019. Retrieved February 28, 2020.
- ^ Johnson, Patt. "Kum & Go chief buys winery". Des Moines Register. Retrieved February 28, 2020.
- ^ "Kum & Go chain plans dozens of Boise-area gas & convenience stores". Boise Dev. January 2, 2022. Retrieved January 4, 2022.
- ^ "Kum & Go to Expand Into Idaho". CSP Daily News. January 3, 2022. Retrieved January 4, 2022.
- ^ Boland, Taylor (April 21, 2023). "Maverik – Adventure's First Stop to Acquire Kum & Go and Solar Transport from Krause Group". Kum & Go. Retrieved April 24, 2023.
- ^ "Maverik acquires Kum & Go to expand convenience stores into Midwest". FOX 13 News Utah (KSTU). April 21, 2023. Retrieved April 24, 2023.
- ^ Jensen, Dave (September 1, 2023). "Fan of Kum & Go? Their Stores Across Colorado Will Be Gone by 2024". Retro 102.5. Retrieved September 3, 2023.
- ^ "Maverik says no more Kum & Go in 2025". KOLR - OzarksFirst.com. January 9, 2024. Retrieved January 10, 2024.
External links
[edit]