LUBBOCK, Texas (KCBD) - Allsup’s Convenience stores have revealed their more than 300 stores have been acquired by an equity firm that operates Iowa-based convenience store chain Yesway.
“We are very excited to have selected Yesway as the acquirer of our company and the future custodian of our brand and legacy,” said Mark Allsup, Allsup’s president, in a release from Yesway stores. “We chose Yesway as a partner because their values are truly aligned with ours. They share our commitment to support the local communities we serve, our unwavering pledge to our customers to provide them with a terrific shopping experience, and our dedication to the success and well-being of our employees.”
A letter was sent to Allsup’s employees announcing the change.
The letter said longtime VP of Finance, Barbara Allsup, will retire, while Mark Allsup will stay on board in a management and advisory role to ensure a smooth transition.
Stores will continue to operate under the Allsup’s name.
Allsup’s founder Lonnie Allsup died in 2018, after starting the business with one store in 1956 in Roswell and building to a company that now includes more than 300 stores, with 3,000 employees, in about 160 communities throughout Texas and New Mexico.
Nine Texas locations were sold to a Georgia company, and those locations will be operated as Hop-In stores.