Casey’s General Stores, Inc. has announced an agreement to acquire 63 convenience stores from EG America, LLC, 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, according to a release.
Casey’s and EG America officials said they 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.
“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,” Casey’s president and chief executive officer Darren Rebelez said. “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.”
“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,” EG America president Nick Unkovic said. “Casey’s is an excellent operator, and we believe these stores and team members will continue to thrive under their ownership.”
“EG Group is pleased to have found a new home for some of our Certified Oil and Minit Mart portfolio,” EG Group co-founder and co-CEO Zuber Issa added. “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.”
