Kroger’s convenience store chain sells for $2.15bn

By Sophie Chapman
Share
The Kroger Company, an American firm based in Cincinnati, has announced the selling of its convenience store business. The UK’s EG Group, located in...

The Kroger Company, an American firm based in Cincinnati, has announced the selling of its convenience store business.

The UK’s EG Group, located in Blackburn, has purchased the business for US$2.15bn.

The deal will see EG Group set up its North American Headquarters in Ohio’s Cincinnati, and maintain the previous businesses’ names.

“One of the most important considerations in our decision-making process was continued operations to ensure minimal disruption to our associates,” commented Kroger’s Executive Vice-President and Chief Financial Officer, J. Michael Schlotman.

“We are very pleased the EG Group plans to establish their North American headquarters in Cincinnati.”

SEE ALSO:

“EG Group is also a recognized international petrol forecourt convenience operator and they have a commercial model that clearly looks to enhance the consumer offer by working with leading retail brands customers know and trust.”

Kroger’s convenience business consists of 784 stores spanning across 18 states. The stores combined made a total of $4bn in sales in 2016.

“This is good for our associates across the country and for our headquarter city of Cincinnati. Throughout the process we were impressed with the EG Group’s professionalism, investment commitment and more importantly their understanding of the U.S. convenience retail market,” Schlotman added.

“We now look forward to working with them closely to ensure a smooth transition for associates.”

Share

Featured Articles

TRACT Secures £11.2M to Propel Agri-food Sustainability

Fresh investment supports TRACT in enhancing tools for sustainability in the food and agricultural sectors, aligning with EU regulations

Spain's Citrus Crisis Impacts Global Juice Market

The devastating floods in Spain have shaken up the global citrus supply, heightening challenges in the fruit juice drinks market

McDonald's: Empowering Students Through Scholarships

McDonald's has spent 40 years supporting students with scholarships & plans to continue, despite Robert F. Kennedy Jr.’s plan to Make America Healthy Again

Starbucks' new Chief Sustainability Officer: Marika McCauley

Drink

Nestlé Presents Growth Plan on its Capital Markets Day

Food

Frozen Food Logistics & the Move to -15°C Initiative

Sustainability