Kwik Trip to Buy Local Rival
The Kwik Trip gas station and convenience store chain is buying one of its rivals, PDQ, for an undisclosed amount.
Middleton, Wisconsin-based PDQ currently runs 34 locations, solely in Wisconsin. The chain used to operate stores in Minnesota, but those locations were sold off in recent years, according to the Associated Press.
Kwik Trip, from La Crosse, Wisconsin, operates 525 stores between Wisconsin, Minnesota and Iowa. About 150 of them are located in Minnesota.
Kwik Trip owner Mark Zietlow told the Associated Press that the PDQ deal would create more than 1,000 jobs as the company plans to remodel the stores. The renaming of PDQ stores is expected to take place until mid-2018.
Kwik Trip’s acquisition announcement comes roughly a week after Alimentation Couche-Tard, a gas station and convenience store chain based in Montreal, said it would buy one of Minnesota’s largest private companies, Holiday gas stations. Although terms of that deal were not disclosed, estimates based on Holiday’s financial record and industry valuations suggest it may have sold for as much as $1.9 billion.