EG Group ‘close’ to buying American retailer for £300m extending reach to 33 US states
EG Group, the Blackburn-based petrol station giant, is understood to be nearing a takeover of a US food and convenience business.
Reports suggest the Issa brothers are close to sealing a $300m US acquisition of Sprint Food Stores.
The deal will see the group add 34 fuel and convenience store sites to its growing American portfolio.
Sky News reported the deal could be completed within days and would expands the group’s reach to 33 US states.
The reports come just two weeks after Zuber and Mohsin, who are behind the £6.8bn takeover of Asda, scrapped £750m plans to buy the grocer’s forecourt business.
EG Group agreed to acquire Asda petrol filling stations car wash sites and some land in February.
The company, which is owned by the Issa brothers and private equity firm TDR Capital, who both last year unveiled a deal to buy a majority stake in grocer Asda from Walmart.
In June EG Group and Asda were allowed to share commercial information regarding the latter’s forecourt business, after competition regulators removed restrictions following the brothers and TDR’s purchase to acquire Asda got the green light.
EG has expanded steadily through a string of acquisitions, and now operates approximately 6000 sites in ten countries, serving more than a billion customers annually.
