3 Big Numbers is a weekly column that looks at a few key details from around the c-store industry.
All eyes across the c-store industry are on EG Group this week. Founder and former co-CEO Zuber Issa, who had teased a potential IPO late last year, told the Financial Times this week that the company should consider selling its U.S. arm, EG America, instead.
While we wait for an announcement about either of those options, the company has confirmed its upcoming exit from Italy and Australia to relieve billions in debt..
All in all, it looks like the retailer is looking to slim down and focus on a few strong markets.
In this week’s “3 Big Numbers,” we explore how EG Group is reshaping its global footprint.
1,700
The number of stores in Italy and Australia EG Group agreed to sell this week.
EG Group remains a global company, but its reach will become considerably smaller once these two new deals are closed.
EG Group agreed to sell its 1,200 sites in Italy to a consortium made up of PAD Multienergy, Vega Carburanti, Toil, Dilella Invest and GIAP, the company announced on Monday. Then on Thursday, it revealed plans to sell its 500 sites in Australia to Ampol Limited.
EG Group expects to sell these stores for an enterprise value of 425 million euros for its Italian branch and AU$1.1 billion for the Australian sites, or more than $1.2 billion combined.
In both announcements, CEO Russell Colaco noted that the company isi selling off these business units to focus on areas where it sees the most growth. He did not specify which regions those are.
3%
The percent of EG America’s revenue that comes from foodservice.
EG Group may be bowing out of other areas of the world, but it’s been busy building its brand in the U.S. That has included plenty of technological upgrades in addition to zeroing in on foodservice.
As of December 2024, food was a small sliver of the company’s revenue, according to EG America’s website. Only 3% came from foodservice, compared to 43% from fuel and 54% from grocery and other merchandise. But EG America seems to be aiming to boost that figure.
Last fall, the retailer named its first vice president of food, dispensed beverage and QSR, Mendy Meriwether, and debuted three QSR concepts at a Cumberland Farms in Massachusetts. This year, the company added another food-focused executive, rolled out a new grab-and-go program and launched online ordering and delivery.
With all these changes, it’s not a question of will the company’s foodservice revenue rise this year, it’s by how much.
2 million
The rough number of loyalty members in EG Group’s rewards program in the first quarter.
Among EG Group’s moves so far this year has been the debut of its refreshed Smart Rewards loyalty program. The new program includes perks such as membership tier programs, exclusive sweepstakes and first-to-market product launches.
Colaco noted in that update that EG Group was seeing “increased basket size and larger fill-ups from loyalty customers.” That mirrors the broader trend across the industry and could encourage more shoppers to try those new foodservice options.
The company had 2 million members in its revamped loyalty program in the first quarter, EG Group noted in its first-quarter trading update. That could translate to a lot of burgers and snacks.
