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EG America Acquires Nine Retail Sites for Rebranding

Cumberland Farms convenience store showcasing modern amenities.

News Summary

EG America has announced its acquisition of nine retail sites from Neon Marketplace in Massachusetts and Rhode Island, set to be rebranded as Cumberland Farms. This strategic acquisition includes six Rhode Island locations and three in Massachusetts, enhancing accessibility with modern amenities like EV charging stations. The move reflects EG America’s focus on growth and consolidating its brand presence in the convenience store sector, supported by its distribution network for operational efficiency.

Portsmouth, RI – EG America has announced its acquisition of nine retail sites in Massachusetts and Rhode Island from Neon Marketplace, with plans to rebrand the locations to Cumberland Farms. This strategic move, which is set to take place in the coming weeks, involves six sites in Rhode Island and three in Massachusetts, all of which feature modern amenities like electric vehicle (EV) charging stations and drive-thrus. The stores are conveniently located near major highways, enhancing their accessibility to travelers and local residents alike.

The Rhode Island locations include sites in Portsmouth, Middletown, Warwick, North Providence, East Greenwich, and Providence. In Massachusetts, EG America will be rebranding locations in Seekonk, Freetown, and Quincy. Support for the new Cumberland Farms stores will be provided by EG America’s distribution and culinary centers located in Westborough, Massachusetts, ensuring a smooth transition and operational efficiency.

EG Group’s CEO, Russ Colaco, has indicated that this acquisition aligns with the company’s long-term business objectives and its drive for market leadership in the region. This transaction also signifies an intention to enhance the Cumberland Farms brand across EG America’s network, which is its largest chain and includes nearly 600 locations. The integration of current team members from the acquired stores into EG America reflects the company’s commitment to maintaining quality service as it expands its workforce.

The CEO of Neon Marketplace, Adi Dhandhania, has expressed confidence in the quality of the stores and their teams, suggesting a seamless transition during the rebranding process. This strategic acquisition is the first of what may be several purchases for EG America, especially following recent improvements to the company’s debt situation. After selling over 150 convenience stores in 2023 to reduce debts, EG America is poised for growth, making this acquisition part of a larger trajectory focused on expansion and network strengthening.

EG America first entered the U.S. market in 2018, acquiring Kroger’s 762-site convenience store network, which enabled it to establish a significant presence in the industry. Along with this acquisition, EG America also acquired TravelCenters of America’s Minit Mart convenience-store business, adding 225 locations to its roster. The company further expanded its operations in 2019 with the purchase of Cumberland Farms, significantly increasing its footprint in the Northeast and Florida, where it now operates nearly 660 convenience stores.

The push for rebranding stores to the Cumberland Farms identity began in early 2022 as part of a strategy previously communicated by former CEO John Carey. This unified branding effort aims to streamline customer experience and enhance the overall visibility of EG America’s expanding network. The company currently manages a diverse portfolio that includes nine additional brands, including Turkey Hill and Quik Stop, but remains focused on consolidating under the well-known Cumberland Farms name.

With this latest acquisition, EG America continues to solidify its commitment to growth while navigating the complexities of the retail landscape. As the convenience store sector continues to evolve, the transition to Cumberland Farms is expected to attract both new customers and retain existing loyal patrons who appreciate convenience and accessibility.