EG Group changes retail strategy in US – Casey General Stores to acquire 63 c-stores
Casey’s General Stores agrees to acquire 63 c-stores from EG group subsidiary
Casey’s General Stores in the US has announced an agreement to acquire 63 convenience stores from EG America, a subsidiary of EG Group.
The stores are located in Kentucky and Tennessee, and currently operate under the Minit Mart and Certified Oil banners. Both companies anticipate the deal will close later this year, subject to customary regulatory approvals.
“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,” said Darren Rebelez, President and Chief Executive Officer at Casey’s.
The buyer is expected to retain the impacted employees at each store, with EG America cooperating to make their transition as seamless as possible. This initiative is one of the main five points of its three-year growth plan, which targets 350 new locations by the end of fiscal year 2026.
“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,” added Nick Unkovic, President of EG America.
EG Group has been reorganizing its retail strategy in the U.S. after announcing its ambition to reduce total net leverage through debt reduction and free cash flow generation. Since then, the British company has been divesting different assets to streamline operations through its EG America subsidiary.