Yesway, a convenience store chain with over 400 locations throughout seven states, filed on Friday with the SEC to raise up to what we estimate could be $300 million in an initial public offering.
Yesway states that it is one of the fastest-growing convenience store operators in the US, with 419 company-operated stores as of December 31, 2025, with 90 successful openings of new stores from 2020 to 2025. The company operates its portfolio primarily under two brands, Yesway and Allsup's. Its sites are differentiated through a leading foodservice offering and a wide variety of grocery items and private-label products. Its geographic footprint consists of stores located in rural and suburban markets across the Midwest and Southwest.
The company previously filed for a $100 million IPO in 2021 before withdrawing it in 2022.
The Fort Worth, TX-based company was founded in 2015 and booked $2.7 billion in revenue for the 12 months ended December 31, 2025. It plans to list on the Nasdaq under the symbol YSWY. Yesway filed confidentially on October 3, 2025. Morgan Stanley, J.P. Morgan, Goldman Sachs, Barclays, BMO Capital Markets, KeyBanc Capital Markets, Guggenheim Securities, and Raymond James are the joint bookrunners on the deal.
