On Wednesday, April 22, 2026, in New York, Yesway Chairman and CEO Thomas Trkla attended the company's IPO ceremony on the floor of the Nasdaq market.
The convenience store operator Yesway is capturing market share from fast-food chains, according to its CEO, Tom Trkla. The company owns the Allsup's convenience store chain, known for its fried burritos and chimichangas, which operates in the Southwestern United States. Yesway began trading on the Nasdaq exchange on Wednesday under the ticker symbol YSWY.
CEO Tom Trkla stated that despite high fuel prices, the popularity of Allsup's fried burritos and chimichangas is helping Yesway attract customers away from fast-food brands. He told CNBC that data from providers indicates the company's sales are increasing while some competitors' sales are declining, leading to the conclusion that Yesway is taking market share from other convenience store chains and fast-food competitors that offer similar food items.
Yesway debuted on the public market Wednesday, listing on the Nasdaq. The company raised $280 million in its initial public offering, with shares priced at $20 each, giving Yesway a valuation of $1.21 billion. The stock opened for trading at $22 per share.
The rise in share price, coupled with strong consumer demand for Yesway's food offerings, highlights the convenience store industry's ongoing encroachment on the dominance of the fast-food sector. Regulatory filings show that in 2025, Allsup's sold approximately 41 million proprietary food items, which included 24 million burritos.
Approximately two-thirds of Yesway's revenue comes from fuel sales, with in-store merchandise contributing the remaining third. Despite rising fuel prices influenced by geopolitical conflicts, demand for Yesway's food remains robust. Trkla noted that customers are visiting their stores for more than just gasoline, which is beneficial in the current economic climate. He also emphasized the chain's value proposition, with combo meals typically priced between $4 and $6, contributing to growth in merchandise sales.
Over the past decade, the convenience store industry has consistently gained market share from fast-food chains. Brands like Wawa, Buc-ee's, and Casey's General Stores have won over consumers with fresh food, low prices, and convenience. The breakfast category has become a key battleground, pitting convenience stores against fast-food giants like McDonald's and Taco Bell.
According to data from the National Association of Convenience Stores, the industry's total foodservice sales reached $121 billion in 2024.
Yesway was founded in 2015 by the real estate-focused private equity firm Brookwood and acquired Allsup's in 2019. As of the end of 2025, Yesway and Allsup's collectively operated 448 stores, primarily located in the Midwestern and Southwestern United States.