Forecourt retail specialist EG Group is to sell a bundle of convenience stores in the US.
Group subsidiary EG America will dispose of 63 c-stores to Casey’s General Stores. The branches being sold are in Kentucky and Tennessee, and trade under the Minit Mart and Certified Oil fascias.
The deal forms part of EG’s deleveraging strategy.
EG Group was founded by Asda owners the Issa brothers and the big-four grocer acquired EG’s UK and Ireland business earlier this year.
EG Group co-founder and co-chief executive Zuber Issa said: “EG Group is pleased to have found a new home for some of our Certified Oil and Minit Mart portfolio. This divestment will enable both parties to execute their strategic plans, respectively. For EG Group, this divestment also represents another important step in executing our deleveraging strategy.”
Casey’s president and chief executive Darren Rebelez said: “One of the key pillars in our strategic plan is to accelerate our store growth over the next three years and bring Casey’s to more communities. This opportunity is an excellent strategic fit as we look to add locations in Kentucky and Tennessee, which are both within our existing distribution footprint. We look forward to serving more guests in these markets and welcoming the team members from this transaction into the Casey’s family.”