EG Group gives insight into U.S. expansion strategy
EG Group has announced the completion of its acquisition of 762 convenience stores in the U.S. from Kroger Co. 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.
EG Group will establish their North American headquarters in Cincinnati, Ohio and continue to operate stores under their established banner names.
The U.S. is a new market for EG Group to further expand operations into and the acquisition facilitates an opportunity to secure further assets in North America, according to the Blackburn-based retailer.
With a retail brand partner commercial approach, EG Group will look to assess the acquired site network in terms of its retail potential, initially partnering with and investing in a few locations with recognised global and local retail brands to understand the market dynamics and consumer perceptions. Following a recognised trial period, they will accelerate growth and roll-out of a retail offer across the remaining network.
“Given the spatial spread across the USA, nurturing the right strategic brand partnerships for the respective market regions is going to be an important strategy focus in North America,” said Mohsin Issa, Founder and co-CEO, EG Group.
EG Group employs over 26,000 staff working in over 4,600 sites across various European markets including the United Kingdom, France, The Netherlands, Belgium, Luxembourg and Italy and the USA.
U.S. supermarket chain Kroger announced last February the sale of its convenience store business to the UK’s EG Group for $2.15 billion.
