The Kroger Co. today announced it has completed the sale of its convenience store business unit to EG Group for $2.15 billion.
Kroger announced in October 2017 its intention to explore strategic alternatives for its convenience store business, including a potential sale, in conjunction with Restock Kroger. In February, Kroger and EG Group announced a definitive agreement for the sale of Kroger’s convenience store business unit to EG Group.
Included in the sale were 762 convenience stores, including 66 franchise operations, operating in 18 states and employing 11,000 associates under the following banner names: Turkey Hill, Loaf 'N Jug, Kwik Shop, Tom Thumb and Quik Stop.
Kroger’s supermarket fuel centers and its Turkey Hill Dairy were not included in the sale.
EG Group will establish their North American headquarters in Cincinnati, Ohio and continue to operate stores under their established banner name.
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