EG Group has increased its US estate to around 1,000 sites with a $300m deal to acquire 225 Minit Mart branded c-stores and forecourts from TravelCenters of America.
Minit Mart operates across nine Midwest US states and employs almost 2,500 employees. Turnover last year was $720m.
The purchase price for the acquisition, before working capital adjustments, was $305m.
Earlier this year EG Group acquired a 762-site business in the United States from Kroger Co.
Mohsin Issa, founder and co-CEO of EG Group, commented: "We have a firm commitment to growing our presence in the US, the world’s largest convenience market and are extremely pleased to have signed definitive transaction documents to acquire the Minit Mart network from Travel-Centers. The Minit Mart portfolio will be a strong addition to our business.
"Our group’s ability to maintain consistency in brand standards along with delivering the right customer experience have made EG Group a partner of choice. Our proven track record of developing similar portfolios, creating career opportunities and being able to leverage our relationships with leading retail brands to meet customer needs and align with market trends is second to none."