Following Kum and Go’s acquisition by Maverik, more than 5,000 employees received bonuses from the Krause Group as a thank you, according to Axios Des Moines.
Chief Executive Officer Kyle Krause and his wife, Sharon, decided to give the bonuses in order “to show their appreciation to the employees who helped create value in the companies.” The bonuses were based on a combination of seniority and estimated level of contribution that an employee provided to Kum & Go and Solar Transport.
While Krause declined to say exactly how much they gave in bonuses, he did reveal that they were big enough to help at least on convenience store manager buy a home, Axios said.
The Krause family announced in February that they were searching for a buyer for its Kum & Go convenience stores, and last week Maverik completed the acquisition of Kum & Go, merging the two renowned brands into the 12th largest convenience store in the United States.
“We are excited to welcome Kum & Go and Solar Transport team members to Maverik,” said Chuck Maggelet, CEO and Chief Adventure Guide of Maverik. “Together, we’ll offer our customers an adventurous and differentiated convenience store experience across fuel, foodservice and in-store offerings.”
As two convenience store chains with 400 stores each, and an operating area that will reach 20 states, Maggelet emphasized the most important asset of both companies: their people.
“Kum & Go has really terrific people,” he continued. “They think about things similarly in some areas and differently in others. It’s taking the best of what we do that we can share with Kum & Go and taking the best of what they do and sharing it with Maverik to build the results, the experience and the value proposition for our customers in fun, interesting and powerful ways that we would not have been able to consider without different perspectives, skills and capabilities.”
NACS Daily covered exclusive insights into the sale with Chuck Maggelet last week.