The Legacy of Allsup’s and the Vision of Yesway
A Story of American Ingenuity, Strategic Growth, and a Bold Future in Convenience Retail
The Past: A Legacy Built on Hard Work
The Allsup’s story is a quintessential tale of the American Dream—brought to life through grit, vision, and relentless commitment to community. High school sweethearts Lonnie and Barbara Allsup began their journey in Morton, Texas, and in 1956 opened their first “drive-in” grocery store in Roswell, New Mexico. This early model of the modern convenience store offered extended hours, fresh produce, and even ice-cold watermelons sold from a horse-watering tank outside. Customers found a clean, welcoming, and efficient shopping experience run by a couple who worked from open to close each day. Lonnie’s Drive-In grew into Allsup’s, a brand that became woven into the fabric of everyday life across the Southwest. Known for its friendly service, loyal customer base, and, of course, the world-famous Allsup’s burrito, the company built a legacy grounded in community trust and consistency.
The Present: Yesway – Building on a Proud Foundation
In 2019, Yesway—a dynamic and rapidly growing convenience store platform ideated and founded by Brookwood Financial Partners, a Boston-based private equity firm—acquired Allsup’s in a transformative transaction that added over 300 stores to its portfolio and solidified its position as a national industry leader. Today, Yesway is not only the proud steward of the Allsup’s legacy but the strategic force propelling it into the future.
Since its founding in 2015 by Brookwood, Yesway has grown into one of the largest convenience store operators in the country, with 444 locations across nine states. The company’s disciplined acquisition and development strategy, combined with its operational excellence, has positioned it as the #1 or #2 operator in most of its rural and suburban markets. Yesway is delivering industry-leading performance while maintaining a relentless focus on customer experience.
Yesway’s Role as the Guardian and Growth Engine of Allsup’s
At Yesway, we view our role as far more than that of a parent company—we are the long-term custodians of Allsup’s brand and its enduring promise to customers. While we have preserved what makes Allsup’s so beloved, including its iconic burrito and community-oriented service, we are also investing hundreds of millions in innovation, new store development, and technology to bring even more value to customers nationwide. Since acquiring Allsup’s, Yesway has completed 85 new store developments and major raze-and-rebuild projects, and numerous fuel expansions, reaffirming our commitment to long-term value creation and operational control, underscored by owning most of our real estate portfolio. This infrastructure not only modernizes the shopping experience but also preserves the authenticity and spirit that customers have cherished for decades.
Yesway’s Destination Food Service: A National Standout
Yesway’s foodservice platform—anchored by the iconic Allsup’s burrito—is one of the most compelling and iconic food programs in the U.S. convenience store industry. With more than 22 million burritos sold annually, the company has redefined what a convenience store can offer. As Yesway continues to expand, our differentiated food offering will be a cornerstone of our strategy—one that deepens customer loyalty, fortifies our position in the marketplace, and reinforces the distinct value we bring to our communities.
The Future: Scaling with Purpose
Yesway is proud to be more than just a convenience store company. We are a platform for innovation, customer connection, and enduring value creation. By honoring Allsup’s remarkable past and investing confidently in its future, Yesway is charting a new course in the industry, one rooted in tradition but driven by data, technology, and a bold vision for growth.
We thank our loyal customers for their continued trust and look forward to serving you for decades to come.
Sincerely,
Tom Trkla
Chairman and Chief Executive Officer
