Beloved gas station pizza chain CEO reveals 400-store expansion plan as food business booms

• Casey's operates over 2,900 convenience stores and plans to add 400+ locations through acquisitions and new builds over the next three years
• Wings are now available in 850 stores with Des Moines locations showing roughly 20% year-over-year sales growth after one year
• The company positions its prepared food business as competing with restaurants rather than other convenience stores, targeting top-quintile S&P 500 growth of 8-10% EBITDA

Summary: Casey's General Stores Announces Major Expansion Plan

Key Expansion Details:

Casey's General Stores has unveiled an ambitious three-year growth strategy targeting at least 400 new store locations through acquisitions and new builds. The Ankeny-based convenience chain currently operates over 2,900 stores and ranks as the nation's third-largest convenience store operator and fifth-largest pizza chain.

Financial Targets:

CEO Darren Rebelez announced a commitment to grow EBITDA by 8-10%, positioning the company among top-quintile growth rates for S&P 500 companies. The stock has surged over 53% year-over-year, and the company recently joined the S&P 500 after adding more than 500 stores in its previous three-year cycle.

Food Business Strategy:

Prepared food remains central to Casey's growth strategy. The chain is expanding beyond its signature pizza into made-to-order items, particularly chicken wings now available in 850 stores with bone-in and boneless options, five sauces, and three dry rubs. In Des Moines, where wings have been available over a year, sales increased approximately 20% year-over-year.

Market Positioning:

Casey's positions itself as competing with quick-service restaurants rather than traditional convenience stores in the prepared food segment. Management emphasizes the company's hybrid model combining fuel, grocery, general merchandise, and prepared food offerings.

Technology Investment:

The expansion includes investments in automation, forecasting tools, and digital platforms including the Casey's app and rewards program to improve operational efficiency and customer experience.