EG Group to Acquire Nine Mercury Fuel Service Company-Operated Locations
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WESTBOROUGH, Mass., March 18, 2021 /PRNewswire/ -- 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.
About EG Group
Founded in 2001 by the Issa Family, United Kingdom based EG Group is a leading petrol forecourt retail convenience operator who has established partnerships with global brands. The business has an established pedigree of delivering an excellent fuel, grocery and merchandise, and food service.
EG Group currently employs over 55,000 colleagues working in circa 6,000 sites across Europe, USA and Australia.
The business is regularly recognized for innovation and investment in convenience retail assets, the employees and the systems. Zuber Issa and Mohsin Issa, Founders and co- CEOs, EG Group, were jointly named the 2018 EY Entrepreneur of the Year in the UK.
Further information at www.eurogarages.com.
Forward Looking Statements
Certain statements contained in this release are forward looking statements, and may discuss our future plans or our expectations regarding our business performance. Forward- looking statements are not guarantees of future business performance or that that future events will occur, and inherently involve certain risks, uncertainties and assumptions which are difficult to predict and outside of the control of management. Therefore, actual outcomes and results may differ materially from what is expressed in any forward-looking statements, and we cannot assure you that the results or developments expressed in these statements will be realized or even if realized, will have the expected consequences to, or effects on, us or our business, prospects, financial condition, results of operations or cash flows. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this release. Other than as may be required under applicable law, we disclaim any obligation or undertaking to disseminate any updates or revisions to any forward-looking statement to reflect events or circumstances after the date on which such statement is made, or to reflect the occurrence of unanticipated events.
Media ContactEmily de Lacosteedelacoste@thecastlegrp.comD 617.337.9517 | M 978.886.3009
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SOURCE EG Group
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