The deal will see the supermarket’s Express format rolled out across EG Group’s 356 petrol stations, taking Asda’s convenience store estate up to 478.
It accelerates the move into the £62bn foodservice market, with the transfer of 462 Greggs, Burger King and Subway outlets as franchise agreements.
The supermarket said the transaction will create a group with expected combined revenues of nearly £28bn.
Co-owner Mohsin Issa said: “With the deal complete, we can focus on delivering the growth opportunities.
“That means lowering the price of fuel for more motorists, bringing Asda’s great value and quality to more communities, offering greater opportunities to our supplier partners and creating sustainable job opportunities for colleagues in our stores and depots.”
The supermarket has committed to opening a further 300 standalone convenience stores by the end of 2026 as part of its long-term ambition to become the UK’s second largest grocer.
It builds on its earlier acquisition of 119 outlets from Co-op in xx, which it started to convert into its Express format last month.
Chair Lord Stuart Rose added: “As families continue to face into cost-of-living challenges, bringing Asda’s long-standing value in groceries and fuel to even more communities is a win for UK consumers.
“The combination of Asda and EG UK will only create more opportunities for Asda to bring that focus on value to even more communities – as well as driving the sustainable growth of the business through a convenience offer of genuine scale and substance.”