Yesway Inc, the US convenience store operator backed by real estate private equity firm Brookwood Financial Partners, is preparing to launch an initial public offering that could raise around $300m, according to a report by Bloomberg citing unnamed people familiar with the matter.
The Fort Worth, Texas-based company is working with Morgan Stanley, JPMorgan Chase and Goldman Sachs on the potential listing, which could take place later this year or in early 2026. Additional banks may also join the syndicate, the sources said.
Yesway first filed for a Nasdaq listing in 2021 before shelving the plans as rising interest rates and market volatility shut down the IPO window for consumer-facing businesses.
Founded in 2015, Yesway has grown rapidly through acquisition and organic expansion, now operating more than 440 stores across nine states. The company significantly expanded its footprint in 2019 through the purchase of Allsup’s, a regional chain known for its burritos.
The revival of the IPO comes amid a tentative reopening of the US equity capital markets, though activity in consumer staples and discretionary sectors remains muted. Over the past three years, fewer than 25 companies in those sectors have raised more than $100m via IPOs, compared to annual totals in 2020 and 2021, Bloomberg data show.
Neither Brookwood nor Yesway responded to requests for comment, while representatives from the banks involved declined to comment.
