Petrol station giant EG Group has acquired American brand Sprint Food Stores, expanding its US presence to 33 states and continuing the group’s run of foodservice-focused purchases, stated reports today (3).
As per the announcement made today, EG Group will acquire Sprint fuel and convenience stores in Georgia and South Caroline, as well as the company’s Sprint Kitchen food brand.
The Sprint Kitchen proprietary foodservice brand is one of the premier food offerings in its market with a wide selection of made-in-store hot food items including fried chicken, pizza, and breakfast options, which will complement EG’s existing and successful foodservice proposition across the USA.
The deal is expected to be completed by the end of the year.
It will take EG Group to over 1,750 sites across 33 states, making it one of the largest British-owned retail empires on the other side of the Atlantic.
Owned by Mohsin and Zuber Issa and private equity fund TDR Capital, EG group owns over 350 petrol stations around the UK, and over the past year has snapped up healthy fast food chain Leon and hundreds of KFC branches.
“As we continue to grow our presence in the USA, we look forward to welcoming Sprint colleagues and these attractive 34 stores to the EG Group family and growing the Sprint brand in Georgia and South Carolina,” reports quoted Issa brothers as saying.
The deal will be another significant acquisition for Issa brothers, the entrepreneurs who spearheaded the joint purchase last year of Asda, one of Britain’s biggest supermarket chains.
They acquired Asda for nearly £7bn alongside TDR Capital, the private equity fund which is the biggest external shareholder in EG Group.
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