The Kroger Co. (Cincinnati) announced today that it will sell its convenience store business to EG Group (Lancashire, U.K.) for $2.15 billion. The transaction is expected to close in the first quarter of Kroger’s fiscal year. EG Group has stated that it will place its North American headquarters in Cincinnati.
According to the company, the deal includes 784 stores across 18 states, including 66 franchise locations, reports Supermarket News.
EG Group is known for its partnership strategy with other brands, including BP, Shell, Starbucks and Burger King, among others. Its Co-CEO Mohsin Issa told Supermarket News, “We are committed to investing in the Kroger network, partnering with leading retail brands and working with the exceptional management team and associates transferring across to deliver a comprehensive retail offer.”