EG Group, a leading international operator of convenience retail, food service and fuel stations, has agreed the sale of its Italian business to a consortium of leading Italian operators for an enterprise value of EUR425 million.
The Italian operators are: PAD Multienergy S.p.A., Vega
Carburanti S.p.A., Toil S.p.A., Dilella Invest S.p.A., and GIAP
s.r.l.
Founded in 2001, EG Group is a leading independent convenience
retailer, which has established partnerships with global brands,
and a focused portfolio of proprietary brands.
The group currently has operations in nine countries, with its
single biggest market by revenue being the USA, followed by Europe,
including Italy, Germany, France, the Netherlands, Luxembourg,
Belgium and the United Kingdom, as well as Australia. The group
currently employs about 38,000 colleagues working in more than
5,500 high-quality sites across its markets—and delivers a
world-class grocery and merchandise, foodservice, and fuel retail
proposition to nearly one billion customers each year.
The group partners with global brands, and also has its own
proprietary brands, including Cumberland Farms, Fastrac, Kwik Shop,
Quik Stop, Sprint, Tom Thumb, and Turkey Hill in the USA, and Go
Fresh in Europe.
"We are pleased to be advising EG Group on this transaction that will support EG’s growth strategy, focussing on its core markets and delivering its deleveraging program."
George Knighton
Partner
The A&O Shearman team is led by M&A partners George Knighton and Paolo Nastasi, supported by colleagues from the London and Milan offices, including senior associate Chloe Bowskill and associate Eliana Cioffi.