The billionaire Issa brothers have sold over 60 of its US convenience shops to Casey’s General Stores.
EG America, a subsidiary of Lancashire-headquartered EG Group, has agreed to sell the 63 stores to the Nasdaq-listed giant.
The stores are located in Kentucky and Tennessee, and currently operate under the Minit Mart and Certified Oil banners.
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The deal, which has been agreed for an undisclosed sum, is expected to be completed later this year.
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.”
Nick Unkovic, president of EG America, …
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