Cary, NC — C-store chain The Pantry, Inc. is set to acquire 47 c-stores in Kansas and Missouri from Presto Convenience Stores, LLC.

The acquisition will be funded with cash on hand and is subject to regulatory approvals and customary closing conditions, according to The Pantry. The stores currently operate under the Presto trade name and generated revenues of approximately $194 million for the 12 months ended May 2010, the company says.

The deal is expected to close in the first quarter of fiscal 2011.