News Summary
EG America has announced the acquisition of nine retail sites from Neon Marketplace in Massachusetts and Rhode Island, set to be rebranded as Cumberland Farms. This strategic move aims to enhance their store network and improve customer services with modern amenities, including EV charging stations. As part of its growth strategy, this acquisition aligns with EG Group’s history in the convenience retail sector, promising to positively impact local communities through improved amenities and services.
Massachusetts and Rhode Island have welcomed a significant development in the retail landscape as EG America has announced the acquisition of nine retail locations from Neon Marketplace. These sites, strategically positioned near highways, will soon be rebranded as Cumberland Farms, a well-known convenience store chain.
The nine retail locations include six in Rhode Island and three in Massachusetts. In Rhode Island, the rebranding will occur in Portsmouth, Middletown, Warwick, North Providence, East Greenwich, and Providence. The Massachusetts locations include Seekonk, Freetown, and Quincy. The stores, constructed between 2020 and 2023, feature modern amenities such as electric vehicle (EV) charging stations and drive-thru windows, reflecting a commitment to contemporary consumer needs.
EG America has indicated that the workforce and operations supporting these Cumberland Farms stores will benefit from the company’s distribution and culinary centers located in Westborough, Massachusetts. This operational support is expected to enhance customer service and streamline logistics as the new stores transition to the Cumberland Farms brand.
In a move that aligns with long-term business objectives, EG America’s acquisition aims to expand its store network. The company, a subsidiary of the EG Group, has a proven track record in the convenience retail sector, having established a significant presence in the United States since its inception in 2018.
This rebranding initiative follows a series of strategic acquisitions by EG Group, which was founded in 2001 by the Issa family and is based in Blackburn, United Kingdom. The company operates over 6,200 retail locations across the UK, Ireland, Europe, the US, and Australia. In 2018, EG Group made a significant entry into the American market by acquiring Kroger’s network of 762 convenience stores, which included several recognized brands such as Turkey Hill and Kwik Shop. Later that year, the group further expanded its footprint by acquiring TravelCenters of America’s Minit Mart convenience stores, adding 225 locations to its portfolio.
By 2019, EG Group had increased its presence in the Northeastern and Florida markets by acquiring nearly 660 Cumberland Farms stores, a well-established brand in the convenience retail space. The current transition from Neon Marketplace to Cumberland Farms marks another critical step in EG America’s growth strategy, aiming to enhance store operations and community value.
Adi Dhandhania, CEO of Neon Marketplace, has noted that EG America’s acquisition of these sites reflects the quality of stores operated under the Neon Marketplace banner and their overall operational excellence. The move is anticipated to benefit local communities through improved services and retail offerings.
Overall, this acquisition by EG America is poised to positively affect retail dynamics in both states, as the new Cumberland Farms stores will provide essential services and amenities, bridging the gap between traditional convenience store experiences and modern consumer demands.
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