Ankey, Iowa-based Casey’s General Stores is acquiring 63 c-stores in Kentucky and Tennessee that operate under the Minit Mart and Certified Oil banners from EG America, a subsidiary of EG Group.
The companies anticipate the deal will close later this year, subject to customary regulatory approvals. Casey’s is expected to retain the impacted employees at each store.
“One of the key pillars in our strategic plan is to accelerate our store growth over the next three years and bring Casey’s to more communities,” said Darren Rebelez, president and CEO.
“This opportunity is an excellent strategic fit as we look to add locations in Kentucky and Tennessee, which are both within our existing distribution footprint. We look forward to serving more guests in these markets and welcoming the team members from this transaction into the Casey’s family.”
Nick Unkovic, president of EG America, described Casey’s as “an excellent operator” under whose ownership “these stores and team members will continue to thrive.”
“We have built a strong and successful business over the years in these Certified Oil and Minit Mart stores, and we are proud of the hard work and dedication shown by our team members there,” he said.
Zuber Issa, co-founder and co-CEO, said EG Group was “pleased to have found a new home for some of our Certified Oil and Minit Mart portfolio.”
“This divestment will enable both parties to execute their strategic plans, respectively,” he said. “For EG Group, this divestment also represents another important step in executing our deleveraging strategy.”
Read more c-store news, such as Casey’s, from The Shelby Report.
