EG Group announced last week that it’s agreed to divest its roughly 260 convenience retail sites in France. This came a few months after the company offloaded its 1,200 sites in Italy and agreed to sell its 500 stores in Australia. It’s also about three years after EG Group agreed to sell its c-store assets in the U.K. and Ireland.
Although EG Group’s leadership has been up front that the divestitures aim to relieve debt, it also hasn’t shied away from the fact that these moves prioritize growth in the U.S. — EG’s largest and most profitable market.
Those efforts came into focus when EG Group appointed American Russell Colaco as its CEO last April, and revealed shortly after that it would relocate its global headquarters from the U.K. to Charlotte, North Carolina. EG Group has also reshaped its board of directors with several Americans since then, including Chairman Roland Smith and former Stripes CEO Steve DeSutter.
Colaco said in EG Group’s earnings update last week that following its recent divestitures and other refinancing actions, the company’s capital structure “is now well-positioned to support the execution of our strategy.”
In the U.S., EG Group — which has about 1,500 c-stores operating under several banners through its EG America arm — has grown its foodservice and loyalty capabilities through new QSR programs and its SmartRewards program. It also expressed intentions to rebrand its entire c-store network to the Cumberland Farms banner, a process that has been underway for years and still has a ways to go.
Performance in the U.S. appears to be strong. As of last quarter, fuel volumes in the states had surpassed the industry standard OPIS benchmark for the eight consecutive month, according to EG’s earnings report. Additionally, the company said it’s seeing “positive early contributions” from the rollout of Krispy Krunchy Chicken and its store rebrands. It did, however, experience gross profit declines in grocery and merchandise due to disruptions related to last year’s government shutdown.
Still, EG Group’s strategy in the U.S. has several unknowns.
Questions notably stem from signs that the company might be preparing to make an initial public offering in the U.S. this year at a value of around $9 billion, according to reports from Sky News and Bloomberg. While no filing has been confirmed, EG’s recent trimming of several business segments and renewed focus on the U.S. mean that if EG Group does list in the U.S., the company could have more capital and a greater runway to pursue the growth Colaco has repeatedly touted.
Representatives from EG Group have declined to comment on several occasions in recent months when asked about this potential move.
What is clear is that EG Group, once known for its significant footprint and base in the U.K., is quickly becoming an American company. Heading into 2026, C-Store Dive named EG Group one of the top convenience retailers to watch this year. With each new divestiture and investment EG Group makes in its U.S. business, that sentiment continues to grow.
