EG Group is relocating its headquarters to Charlotte, North Carolina. | EG Group
EG Group is relocating its headquarters to Charlotte, North Carolina, further transitioning itself to being a U.S.-managed organization.
The convenience-store company, currently based in Blackburn, U.K., announced this change and other second-quarter highlights in a Wednesday news release.
This news follows several changes for the global retailer, which operates c-stores in the United States under EG America, under brands like Cumberland Farms and Kwik Shop. In April, EG Group appointed Russell Colaco as CEO as co-founder Mohsin Issa stepped down. Issa said at the time that after the sale of its U.K. business, the United States is EG’s largest region by sales, and the company needed its lead executives there.
In December, reports said EG Group was considering a $14 billion public stock listing in the United States. But then in August, EG Group co-founder and Mohsin’s brother Zuber Issa pushed for the company to sell its U.S. business. That same month, it also said it agreed to sell its Italian and Australian businesses.
EG America is No. 6 on CSP’s 2025 Top 202 ranking of U.S. c-store chains by store count.
In its second-quarter report, the company also highlighted hiring Mark Segal as CFO, Erik Chalut as chief legal officer and Steve DeSutter as an independent non-executive director.
Second-quarter performance
EG Group EBITDA (earnings before interest, taxes, depreciation and amortization) was consistent with the previous year, the company said, decreasing 1.1% to $270 million.
Performance in the United States was soft at the beginning of the quarter, leading to a 24.6% decrease in underlying EBITDA to $100 million in second-quarter 2025, EG Group said.
A newly launched collaboration with Krispy Krunchy Chicken, rolled out at two Tom Thumb locations in Florida, delivered a 10% average increase in foot traffic at c-stores, resulting in about a 15% rise in merchandise sales, the company said.
The company is also expanding its Cumberland Farms brand. Currently, the 110 Tom Thumb outlets in the Florida Panhandle and Gulf Coast are being rebranded to Cumberland Farms.
“We delivered a solid performance in the second quarter as we continued to make sustained progress with our ambitious strategy,” Colaco said. “We generated growth across our foodservice, and grocery and merchandise business streams in second-quarter, and this was supported by effective cost management. This was offset by a weaker fuel performance due to lower fuel margins and a strategic decision to stabilize our fuel volumes in the U.S., as well as challenging market dynamics in Germany. Our focus on stabilizing volumes led to fuel volumes and same-store sales returning to growth in the U.S. after the period end.”
Key finance, legal and other corporate personnel will be based in Charlotte, EG Group said, while the Group’s European Shared Service Centre will move to Bolton, Greater Manchester, “retaining the company’s roots in the north-west of England while ensuring its office footprint reflects EG Group’s reduced presence in the UK and Europe.”
EG Group was founded in 2001. It operates in nine countries and employs about 38,000 colleagues. It partners with global brands, and has its own proprietary brands including Cumberland Farms, Fastrac, Kwik Shop, Quik Stop, Sprint, Tom Thumb, and Turkey Hill in the United States.
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