EG Group has expanded its US forecourt empire with the acquisition of Sprint Food Stores.
The deal – for a reported $300m – pushes the Blackburn-headquartered group into two new states taking its presence in the US to more than 1,750 sites across 33 states.
EG will take over all 34 Sprint fuel and convenience stores in Georgia and South Carolina, as well as the proprietary ‘Sprint Kitchen’ foodservice brand, which offers a selection of made-in-store hot food items including fried chicken, pizza, and breakfast options.
It is the latest in a long line of acquisitions for EG, including, most recently, in the UK, the takeover of northern bakery chain Cooplands and, earlier in the year, fast food chain Leon.
Owners Zuber and Mohsin Issa – and their PE partners TDR Capital – also snapped up Asda for £6.8bn last year.
“As we continue to grow our presence in the USA, we look forward to welcoming Sprint colleagues and these attractive 34 stores to the EG Group family and growing the Sprint brand in Georgia and South Carolina,” the Issas said in a joint statement.
George Fournier, EG’s president in the US, added: “We are excited to have Sprint join the EG America team. We know our new colleagues will make a strong contribution, as we expand our business into two new states.”
Andy Jones, president and CEO of Sprint Food Stores, said: “We have built a solid and thriving business over the past 24 years and are proud of everything we have accomplished.
“The hard work and commitment of our team members have been the most important factors contributing to our success. EG Group is a highly innovative and growth-oriented company and we are confident they will leverage both their expertise and the dedication of Sprint team members to ensure these stores thrive even more.”
The Sprint deal is subject to customary conditions, including regulatory approvals, and is expected to complete by the end of 2021.
EG Group currently employs about 50,000 colleagues working in more than 6,200 sites across the UK&I, Europe, the US and Australia.