EG Group announced the successful acquisition of a portfolio of 54 Fastrafc Markets ("Fastrac") branded convenience retail stores and gas stations in addition to their wholesale fuel business.
Fastrac operates in the state of New York with sites clustered along the 1-90 corridor in the Rochester-Syracuse-Albany region, with over 500 employees. Jay Erickson, President of EG America stated: "We are very impressed by the Fastrac operation, from their unbranded fuel procurement and transportation department to the well-developed signature pizza program offered. These stores are highly complementary to EG Group's existing US operation and we are very fortunate to have the Fastrac team join our EG America family."
In April 2018, EG Group acquired a 762 site convenience store business in the US from Kroger C. (NYSE:KR), and as part of this deal established their North American headquarters in Cincinatti, Ohio. In December 2018, EG Group expanded to 988 stores with the acquisition of the Mini Mart portfolio from Travel Centers of America. With the agreement to acquire 69 Certified Oil stores and the closing of the Fastrac purchase, the EG Group will total 1,112 stores, operating in 25 states.
Mohsin Issa, Founder and co-CEO, EG Group commented: "We have a firm commitment to growing our presence in the USA, the world's largest convenience market and are extremely pleased to have finalized the purchase of the Fastrac portfolio as another strong addition to our business."
Zuber Issa, Founder and co-CEO, EG Group 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."
EG group was founded in 2011 by the Issa Family, and is a UK based leading petrol forecourt retail convenience operator currently employing over 35,000 people working in around 5,300 sites across Europe, USA and Australia. Zuber and Mohsin Issa, Founders and co-CEOs of EG Group, were jointly named the 2018 EY Entrepreneur of the Year in the UK.