FORT WORTH, TEXAS—Convenience store chain Yesway has filed with the U.S. Securites and Exchange Commission for a $100 million initial public offering. The Texas-based convenience store is currently held by private equity firm Brookwood Financial Partners LLC.
Yesway plans to list on the Nasdaq under the ticker symbol “YSWY.” The number of shares to be offered and the price range for the proposed offering have yet to be determined. Morgan Stanley, J.P. Morgan, Goldman Sachs & Co. LLC, BMO Capital Markets and Barclays are acting as joint bookrunning managers for the proposed offering.
Yesway has been expanding its operations rapidly since it was established in 2015. In 2016, it acquired more than 150 stores in Iowa, Texas, New Mexico, Oklahoma, Kansas, Missouri, Nebraska, South Dakota and Wyoming. In November 2019, Yesway purchased Allsup’s—the largest deal in its history—acquiring more than 300 stores, and it continues to open stores under the Allsup’s brand. The company currently operates 403 convenience stores across nine states.
NACS Magazine last year featured the Yesway and Allsup’s acquisition and how the two brands came together thanks to a strong relationship, mutual respect and a beloved burrito.