Casey’s to acquire 63 stores from EG America
Casey’s General Stores is expanding its footprint in the South via an acquisition.
The nation’s third-largest convenience store retailer has entered into an agreement to acquire 63 convenience stores from EG America, a subsidiary of EG Group Ltd. The stores, which are located in Kentucky and Tennessee, currently operate under the Minit Mart and Certified Oil banners.
The deal is expected to close later this year, subject to customary regulatory approvals. Casey’s is expected to retain the affected employees at each store, and EG America is cooperating to make their transition as seamless as possible.
In June, Casey’s unveiled a strategic growth plan that included a goal of adding 350 stores by the end of fiscal year 2026, with the expansion including both organic growth and acquisitions.
“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,” said Darren Rebelez, president and CEO, Casey’s. “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.”
The UK.-based EG Group, which has sites across the U.K., France, The Netherlands, Belgium, Luxembourg and Italy, made its its first U.S. acquisition in February 2018, a $2.15 billion deal to acquire Kroger Co.. The company has since added other U.S. banners to its portfolio, including Cumberland Farms, Certified Oil, Fastrac, Kwik Shop and more. It currently owns and operates roughly 1,700 convenience store and fuel retailers in the U.S.
“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,” said Nick Unkovic, president of EG America. “Casey’s is an excellent operator, and we believe these stores and team members will continue to thrive under their ownership.”
With more than 2,500 locations, Casey’s is the third-largest convenience store retailer in the U.S.
Founded in 2001 by the Issa brothers, the United Kingdom-based EG Group is a leading independent convenience retailer, which has established partnerships with global brands, as well as a focused portfolio of proprietary brands.