They have bought two Italian wineries, and in 2020 the company purchased Parma Calcio 1913, a professional soccer team. The descendants of Italian immigrants, the Krauses have invested heavily in that country. "We look forward to working with them as a strong community partner to finalize the details of this important and exciting addition to our city," Sanders said. As a condition of the agreement, the family must build a stadium, which they plan to do south of downtown at the old Dico wheel factory.ĭes Moines City Manager Scott Sanders said in a statement that the Krause Group reassured local officials Friday morning that the company still plans to build the stadium. professional soccer behind Major League Soccer. In January 2022, the United Soccer League awarded the Krauses a franchise in its Championship League, the second tier of U.S. Previously: How new Kum & Go CEO Tanner Krause is investing in people and social justice - and still turning a profit Investing in soccer in the U.S. The Krauses envision an entertainment venue, a plaza, shops, restaurants, breweries, hotels, apartments, offices and a grocery store. Krause+, the company's real estate arm, plans about $550 million in development in the area south of downtown. "My family has worked for four generations to create and build Kum & Go into a business that has done an incredible amount of good for our people, for Iowa and beyond." “This is the most momentous day in the 63-year history of our family business," Tanner Krause said in a statement. Previously: Kum & Go CEO Kyle Krause stepping down, paving way for son atop Des Moines-based convenience chain Krause stepped aside from Kum & Go in December 2020 to focus on the company's other goals, promoting his son, Tanner, to the top spot at the chain. In addition to the Kum & Go chain, the company owns a real estate development business, a logistics business, two ranches and the Des Moines Menace, a semiprofessional soccer team. The Krause Group, meanwhile, has become diverse under Kyle Krause's leadership. Kum & Go also competes with Ankeny-based Casey's General Stores for supremacy of an Iowa delicacy: gas station pizza. The company operates an irreverent Twitter account and sells merchandise in support of LGBTQ+ causes. Known nationally for its unusual name, Kum & Go has developed a passionate following among Iowans. More: After 110 million euro loss, Kum & Go owners continue investing in Italian soccer team What is Kum & Go, and what does its parent company do? While many customers have returned, some are still working from home, eroding a key customer base that stopped in for breakfast in the mornings and alcohol in the evenings on their commutes. The sale also comes after a near-apocalyptic scenario for convenience stores when customers stopped driving amid government-enforced lockdowns at the start of the COVID-19 pandemic. At the time, analysts told the Des Moines Register that running a mid-sized chain like Kum & Go has become increasingly difficult, as bigger chains have more money to invest in increasingly expensive technology to improve customer experience. Reuters first reported in February that Kum & Go's parent company, the Krause Group, was mulling a sale of the convenience stores. "We look forward to welcoming Kum & Go and Solar Transport associates and stores to Maverik."Ī Maverik spokesperson did not immediately return an email asking whether the company will rebrand Kum & Go's stores. "We are honored to carry (the Krause family's) legacy forward as we build on Kum & Go’s strong operating and innovation capabilities and expand our adventurous convenience experience," Maverik President Chuck Maggelet said in a statement.
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