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Commercial Property

Asda owners' EG Group in US expansion as Issa brothers agree major deal

The group is set to acquire all 34 sites in Georgia and South Carolina

Mohsin and Zuber Issa

EG Group, which was founded by the billionaire Issa brothers, has agreed to acquire 34 fuel and convenience store locations in the US.

The Blackburn-headquartered group, which includes Euro Garages, Cooplands and Leon, has entered into an asset purchase agreement with Sprint Food Stores, Inc.

The group is set to acquire all 34 sites in Georgia and South Carolina and the proprietary 'Sprint Kitchen' foodservice brand from Sprint. The transaction is expected to complete by the end of 2021.

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The acquisition expands EG Group's presence in the US to two additional states, and post-completion it will operate over 1,750 sites across 33 states.

In a joint statement Zuber and Mohsin Issa, who also own Asda alongside TDR Capital, said: "As we continue to grow our presence in the USA, we look forward to welcoming Sprint colleagues and these attractive 34 stores to the EG Group family and growing the Sprint brand in Georgia and South Carolina."

George Fournier, president of EG America, added: "We are excited to have Sprint join the EG America team. We know our new colleagues will make a strong contribution, as we expand our business into two new states."