Casey’s General Stores, Inc. has announced an agreement to acquire 63 convenience stores from EG America, a subsidiary of EG Group Ltd.
The stores are located in Kentucky and Tennessee, and currently operate under the Minit Mart and Certified Oil banners.
Casey’s and EG America, two of the leading convenience store chains in the United States, anticipate the deal will close later this year, subject to customary regulatory approvals. Casey’s is expected to retain the impacted employees at each store, and EG America is cooperating to make their transition as seamless as possible.
Casey’s President and Chief Executive Officer 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.”
EG America President Nick Unkovic said: “We have built a strong and successful business over the years in these Certified Oil and Minit Mart stores, and we are proud of the hard work and dedication shown by our team members there. Casey’s is an excellent operator, and we believe these stores and team members will continue to thrive under their ownership.”
EG Group co-Founder and co-CEO 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.”
