Casey's General Stores has submitted an initial bid for Kroger's $2 billion c-store business, according to a CNBC report.
According to the report, activist invest JCP Investment Management called for Casey's to explore strategic alternatives in January, including a potential sale.
Kroger announced in October that it was exploring options for its c-store business, which totals more than 780 locations, operating under the Kwik Shop, Turkey Hill and Tom Thumb banners. Casey's is one of several potential buyers for the Kroger shops. Final offers in the process are due early next month.