Yesway, which operates a chain of convenience stores under the Yesway and Allsup's brands, filed on Tuesday with the SEC to raise up to $100 million in an initial public offering.
Yesway states that it is one of the fastest-growing convenience store operators in the US, with 403 company-operated stores as of June 30, 2021, up from 140 as of December 31, 2018. 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 Fort Worth, TX-based company was founded in 2015 and booked $1.6 billion in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol YSWY. Morgan Stanley, J.P. Morgan, Goldman Sachs, BMO Capital Markets, and Barclays are the joint bookrunners on the deal. No pricing terms were disclosed.
