BRITAIN’S leading retail convenience operator, EG Group, will acquire all 54 Fastrac Markets’ (Fastrac) retail stores and gas stations in the US, in addition to their wholesale fuel business.
The Fastrac purchase will take the family business to grow to a total of 1,042 stores, operating in 24 states across the US.
Fastrac operates in New York State in the Rochester-Syracuse-Albany region, with more than 500 employees.
Founded by the Issa brothers in 2001, the EG Group is a leading petrol forecourt retail convenience operator in the UK.
Founder and co-CEO of EG Group, Mohsin Issa, said: “We have a firm commitment to growing our presence in the USA, the world’s largest convenience market and are extremely pleased to have signed definitive transaction documents to acquire the Fastrac portfolio as another strong addition to our business.
Zuber Issa added: “For the past 18 years, we have had a vision of becoming a leading gas station/convenience store operator around the world. This is another exciting addition to the US portfolio as we continue on our growth journey.
“The Fastrac acquisition, in addition to multiple land purchases made in 2018 for new to industry stores, builds on our foundational network as we bullishly explore further real estate development prospects and more importantly provide growth opportunities in the USA for all our colleagues.”
Lat year, the EG Group acquired a 762 site convenience store business in the US from Kroger Co., operating under the banner names such as Turkey Hill, Loaf ‘N Jug, Kwik Shop, and others.
As part of the Kroger Deal, the EG Group established their North American headquarters in Cincinnati, Ohio.
In December of 2018, the EG Group expanded to 988 stores with the acquisition of the Minit Mart portfolio from Travel Centers of America and the opening of a new Turkey Hill location in Pennsylvania.
The EG Group currently employs 30,000 colleagues working in 5,200 sites across Europe, the US, and Australia.