Yesway announces completion of Allsup's acquisition

Yesway announced last week it completed its acquisition of Allsup’s Convenience Stores, a 304-store regional chain based in Clovis that includes stores in Tucumcari and Logan in Quay County.

Yesway, which operates a store in San Jon, now has 421 stores and has stated it wants to increase that number past 500 to become one of the top 15 convenience retailers in the United States, according to a news release from the company.

Yesway initially announced its acquisition of Allsup’s in October.

Yesway Chairman and CEO Thomas Nicholas Trkla said the acquired stores will continue to operate under the Allsup’s brand and keep serving its famous deep-fried burritos. The company also intends to keep a corporate office in Clovis.

“Store personnel will not change, and there are no plans to close stores,” Trkla stated in an email last month to the Quay County Sun.

Mark Allsup, Allsup’s president, has agreed to serve as president of the combined company, Trkla stated.

Several other Allsup’s executives and department managers will hold senior roles in the company, Trkla said.

Allsup’s founder Lonnie Allsup died in 2018, leaving a legacy that started with one store in 1956 in Roswell and includes 3,000 employees in about 160 communities throughout Texas and New Mexico.

Goldman Sachs acted as financial adviser to Yesway for the transaction, and Goldman Sachs and RBC were joint lead arrangers on the associated debt facility.