EG Group is pleased to announce that it has entered into an Asset Purchase Agreement (Purchase Agreement) with Mercury Fuel Service, Incorporated (Mercury).
Subject to customary conditions set forth in the Purchase Agreement, EG Group expects to acquire nine (9) company-operated convenience store locations from Mercury, all of which are located in Connecticut. The transaction is expected to close over the next few months.
EG Group already operates a network of 72 Cumberland Farms convenience stores in Connecticut, employing nearly 1500 Team Members. The nine company-operated Mercury sites will be rebranded to Cumberland Farms to provide Guests with a consistent offering across the network in Connecticut.
George Fournier, President of EG America, commented: "We are excited to add these nine stores to the EG Group's Cumberland Farms banner so that we may reach more of our loyal Guests, and look forward to additional site growth across the EG America network."
Michael J. Devino, President of Mercury Fuel Service said, "We have built a solid and thriving business over the past 74 years and are proud of everything we have accomplished. Cumberland Farms is a great brand and we are sure they will leverage their expertise to ensure these stores thrive even more."
In the US, EG Group owns and operates Cumberland Farms, Certified Oil, Fastrac, Kwik Shop, Loaf 'N Jug, Minit Mart, Quik Stop, Tom Thumb, and Turkey Hill. EG Group has over 1,700 stores across the country in 31 states and pumps over 2.5 billion gallons of fuel, with merchandise sales of more than $3 billion on an annualized basis.