News dalla rete ITA

9 Febbraio 2018

Stati Uniti

USA: KROGER SELLING C-STORE BUSINESS FOR $2.15B

British company, EG Group, to enter U.S. and establish North American headquarters in CincinnatiRichard Turcsik 1 | Feb, 2018The Kroger Co. today announced that it is selling its convenience store business to EG Group, a privately held petroleum and convenience store retailer headquartered in Blackburn, Lancashire, U.K. The $2.15 billion transaction is expected to close during the first quarter of Kroger’s fiscal year.The deal includes 784 stores operating across 18 states, including 66 franchise locations.“The EG Group plans to continue operating stores under their existing banners: Kwik Shop, Quik Stop, Loaf ‘N Jug, Tom Thumb and Turkey Hill,” Kristal Howard, head of corporate communications and media relations, told Supermarket News. Also, as part of the agreement, EG Group will establish its North American headquarters in Cincinnati, where Kroger is also headquartered.Kroger had announced in October that is was exploring “strategic alternatives” for its convenience stores, including a possible sale, as part of its Restock Kroger initiative. As reported, Ankeny, Iowa-based Casey’s General Stores had been mentioned as a possibly buyer of Kroger’s C-stores last week.“Our convenience store business has been a part of our company for many years,” said Mike Schlotman, Kroger’s executive vice president and CFO. “We want to thank our management team and associates for their enduring commitment to our customers, and for the contributions they have made to build our supermarket fuel business. As part of our regular review of assets, it has become clear that our strong convenience store business unit will better meet its full potential outside of our business.”Schlotman said Kroger considered the impact the sale would have on its associates. “We are very pleased EG Group plans to establish their North American headquarters in Cincinnati,” he said. “EG Group is also a recognized international petrol forecourt convenience store operator and they have a commercial model which clearly looks to enhance the consumer offer by working with leading retail brands customers know and trust.[...]To read the full article click on the following link: http://www.supermarketnews.com/news/kroger-selling-c-store-business-215b (ICE CHICAGO)