Convenience store owner Yesway moves closer to public markets with US IPO filing
March 27 (Reuters) - Yesway revived its U.S. initial public offering on Friday, moving the private equity-backed convenience store owner closer to public markets.
The Fort Worth, Texas-based company had been pursuing an IPO since 2021, but shelved it in late 2022 when economic uncertainty had crushed the new listing markets.
The filing comes as market volatility stemming from the ongoing conflict in the Middle East threatens to once again delay the long-awaited U.S. IPO rebound.
Still, some issuers including aerospace-engineered components platform Arxis and defense-technology prime contractor AEVEX have flipped their prospectuses public in recent days, giving them the optionality to move ahead with the IPO when conditions improve.
Established in 2015 by Boston-based real estate-focused private equity firm Brookwood Financial Partners, Yesway operates 449 convenience stores across nine states in the Midwest and Southwest.
From candy to baked goods and fountain drinks, Yesway is known for its food service offerings and private-label products, including Allsup's deep-fried burrito.
The company plans to sell new shares in the offering.
Morgan Stanley, J.P. Morgan, and Goldman Sachs are among the bookrunning managers for the offering. Yesway will list on the Nasdaq under the symbol "YSWY."
