Casey's gets thumbs up with more term fuel buys

摘要

Casey's General Stores Inc. is boutique investment bank Jefferies' "franchise pick" within the convenience store sector, thanks in great part to a promising new fuel procurement effort. Sources said Casey's has long had a simple approach to buying its gasoline and diesel, often relying on the low rack in the scores of terminals where it purchases fuel. But under the aegis of new CEO Darren Rebelez, the company will attempt to modernize its procurement, in the belief that term deals may reward it with buying prices that fall substantially under OPIS low rack.