Yesway, which operates a chain of convenience stores under the Yesway and Allsup's brands, withdrew its plans for an initial public offering on Thursday. It originally filed in September 2021 with a proposed deal size of $100 million. The company had not updated its prospectus since December 2021.
Yesway states that it is one of the fastest-growing convenience store operators in the US. The company operates its portfolio primarily under two brands, Yesway and Allsup's, and its geographic footprint spans 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 September 30, 2021. It had planned to list on the Nasdaq under the symbol YSWY. Morgan Stanley, J.P. Morgan, Goldman Sachs, BMO Capital Markets, and Barclays were set to be the joint bookrunners on the deal.
