Yesway Chairman and CEO Thomas Truckla during the company’s initial public offering on the Nasdaq Marketsite on April 22, 2026 in New York.
Michael Nagle | Bloomberg | Getty Images
Convenience store chain Allsup’s fried burritos and chimichangas support parent company yes way Yesway CEO Tom Truckla said Wednesday that even higher fuel prices are taking customers away from fast-food chains.
“A lot of the data we have from our data providers shows that our sales are increasing while some of our competitors’ sales are decreasing,” he told CNBC. “We estimate that we are taking some market share from both other c-store chains and other (quick-service restaurant chains) that sell food and compete with our burrito platform.”
Yesway made its public market debut on Wednesday, trading as “YSWY” on the Nasdaq Stock Exchange. The company raised $280 million in its initial public offering, giving the company a stock price of $20 and a valuation of $1.21 billion. The stock began trading at $22 per share.
The soaring inventory and demand for Yesway’s food highlights how the convenience store industry is steadily chipping away at fast food’s dominance.
Allsup’s sold about 41 million unique foods in 2025, including 24 million burritos, according to regulatory filings.
Approximately two-thirds of Yesway’s revenue comes from fuel, with the remaining one-third coming from merchandise sold in-store. While fuel prices are rising due to the Iran war, demand for Yesway’s food products remains high.
“People come to our store not only for fuel, but that’s also very helpful in an environment like this,” Trkla said. “The other thing I’d like to mention is that we’re already a value store. In fact, we’re actually seeing an increase in in-store product sales because meals are already priced at $4, $5, $6.”
Over the past decade, c-stores have continued to steal market share from fast-food chains. Chain stores such as Wawa and Buc-ee’s Casey’s General Store attracted customers with its fresh produce, driven by its low prices and convenience. Breakfast, in particular, has become a battleground between c-stores and fast-food rivals such as: mcdonalds And Taco Bell.
Food service sales for the entire c-store industry will reach $121 billion in 2024, according to data from the National Association of Convenience Stores.
Brookwood, a private equity firm specializing in real estate, founded Yesway in 2015. The company acquired Allsup’s in 2019. By the end of 2025, Yesway and Allsup’s had a combined 448 locations, primarily concentrated in the Midwest and Southwest.
