Casey’s Agrees to Acquire 63 Convenience Stores From EG Group
August 15 2023 - 11:00AM
Business Wire
Casey’s General Stores, Inc. (“Casey’s”) (Nasdaq: CASY) today
announced an agreement to acquire 63 convenience stores from EG
America, LLC (“EG America”), a subsidiary of EG Group Ltd. (“EG
Group”).
The stores are located in Kentucky and Tennessee, and currently
operate under the Minit Mart and Certified Oil banners.
Casey’s and EG America, two of the leading convenience store
chains in the United States, 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.
Darren Rebelez, President and Chief Executive Officer at
Casey’s, said: “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. We look forward to serving more guests in these markets
and welcoming the team members from this transaction into the
Casey’s family.”
Nick Unkovic, President of EG America, said: “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.”
Zuber Issa, co-Founder and co-CEO of EG Group, said: “EG
Group is pleased to have found a new home for some of our Certified
Oil and Minit Mart portfolio. 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.”
About Casey’s
Casey’s is a Fortune 500 company (NASDAQ: CASY) operating over
2,500 convenience stores. Founded more than 50 years ago, the
company has grown to become the third-largest convenience store
retailer and the fifth-largest pizza chain in the United States.
Casey’s provides freshly prepared foods, quality fuel and friendly
service at its locations. Guests can enjoy pizza, donuts, other
assorted bakery items, and a wide selection of beverages and
snacks. Learn more and order online at www.caseys.com, or in the
mobile app.
About EG Group
Founded in 2001 by the Issa brothers, the United Kingdom-based
EG Group is a leading independent convenience retailer, which has
established partnerships with global brands, as well as a focused
portfolio of proprietary brands. The business has an established
pedigree of delivering a world-class Grocery & Merchandise,
Foodservice and Fuel proposition in all the markets in which it
operates.
EG Group currently employs more than 50,000 colleagues working
in over 6,600 sites across the UK&I, Europe, USA and Australia.
The business is regularly recognized for innovation and investment
in convenience retail assets, employees and systems. Mohsin and
Zuber Issa, founders and co- CEOs of EG Group, were jointly named
the 2018 EY Entrepreneur of the Year in the UK.
Further information at www.eg.group
Forward-Looking Statements
Certain statements contained in this release may constitute
forward looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995, including those that
discuss future plans or expectations regarding business
performance. Forward-looking statements are not guarantees of
future business performance or that future events will occur, and
inherently involve certain risks, uncertainties and assumptions
which are difficult to predict. Therefore, actual outcomes and
results may differ materially from what is expressed in any
forward-looking statements, and we cannot assure you that the
results or developments expressed in these statements will be
realized or even if realized, will have the expected consequences
to, or effects on, the business, prospects, store integration or
growth, financial condition, results of operations or cash flows.
You should not place undue reliance on these forward-looking
statements, which speak only as of the date of this release. Any
forward looking statements in this release represent current views
as of the date of this release with respect to future events, and
any intention or obligation to update or revise any forward-looking
statements in the release, whether as a result of new information,
future events, or otherwise, is expressly disclaimed.
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For further information, please contact: For Casey’s
– Investor Relations Contact: Brian Johnson +1 (515) 965-6587
Media Relations Contact: Katie Petru +1 (515) 446-6772
For EG America Media Relations – Emily Pickering,
epickering@thecastlegrp.com +1 (617) 337-9517 direct / +1 (978)
886-3009 mobile
For EG Group Media Relations – FGS Global Rollo Head: +44
(0) 7768 994987 Jenny Davey: +44 (0) 7901 513610 James Thompson:
+44 (0) 7947 796965 EGGroup-LON@fgsglobal.com
For EG Group Investor Relations – Daniela Higgins:
Daniela.carette@eg.group
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