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Kroger Divests Its C-Store Business

February 5, 2018: 12:00 AM EST
Kroger announced it is selling its convenience store business to British petrol forecourt C-store retailer EG Group. As part of the $2.15 billion deal, EG Group will set up headquarters in Cincinnati, Ohio, home of Kroger. EVP/CFO Mike Schlotman said the company’s review of assets determined that the C-store business would “better meet its full potential outside of our business." Kroger said it plans to use the proceeds from the sale to repurchase shares and to lower its net total debt to adjusted EBITDA ratio.  [  Image credit:  © Kroger   ]
"Kroger and EG Group Announce Definitive Agreement for Purchase of Kroger's Convenience Store Business", News release, Kroger , February 05, 2018, © The Kroger Co.
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