One of the most profitable beer and food concessions at the Iowa State Fair is up for grabs in 2025 after the fair board decided Wednesday to discontinue a contract with its operators, a prominent Des Moines couple who failed to pay employees, vendors and a portion of concession fees after this year’s fair.
Fair CEO Jeremy Parsons said fair staff will be preparing a request for proposals for those interested in operating Steer N’ Stein, which occupies a large stand across from the administration building on the fairgrounds. It recorded more than $1.28 million in sales at this year’s fair, which ran from Aug. 3-13.
Parsons said the decision to end the annual contract with former Adventureland Resort CEO Michael Krantz and his wife Kimberly came after fair staff decided the pair failed to meet contractual obligations and operations standards as concessionaires, including maintaining good business practices.
The fair sent a letter Nov. 7 to Michael Krantz, forbidding the removal of any personal items from the fair-owned Steer N’ Stein building until the fair receives $102,000 in concession fees still due from the 2024 fair.