Following a public comment period, the Federal Trade Commission has approved a final order settling charges that Casey’s General Stores Inc.’s acquisition of Buck’s Intermediate Holdings, LLC would violate federal antitrust law. Under the order, the companies have agreed to divest retail fuel assets in local gasoline and diesel fuel markets across two states.
According to the complaint, which was first announced in April 2021, the proposed acquisition would likely harm competition for retail sale of gasoline in seven local markets in Nebraska and Iowa. In four of these local markets, competition for the retail sale of diesel fuel would also be harmed.
The final order requires Casey’s to divest six retail fuel outlets, three Casey’s outlets and three Bucky’s outlets, to Western Oil II, LLC and its affiliate Danco II, LLC within 10 days after Casey’s completes the acquisition. (One of the Casey’s outlets, store 2886, serves two of the seven local markets.) The parties are also required to provide the Commission notice before acquiring retail fuel assets within a fixed distance of any Casey’s outlet in a market involving a divestiture for ten years.
The Commission vote to approve the final order was 4-0.