By Kaylee Lindenmuth
CINCINNATI, Ohio - A convenience store chain with four northern Schuylkill locations is set to be sold to a company based out of the United Kingdom, according to a press release.
The Kroger Company, of Cincinnati, Ohio, announced the sale Monday night, which will transfer ownership of the company's convenience store unit to EG Group, of Blackburn, Lancashire, United Kingdom for $2.15 billion.
The transaction is expected to be closed by the end of the first quarter of the fiscal year for The Kroger Company.
According to a press release, "The transaction is subject to customary closing conditions, including expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. "
"Our convenience store business has been a part of our company for many years. We want to thank our management team and associates for their enduring commitment to our customers, and for the contributions they have made to build our supermarket fuel business," said Mike Schlotman, Kroger's executive vice president and chief financial officer, in a press release. "As part of our regular review of assets, it has become clear that our strong convenience store business unit will better meet its full potential outside of our business."
Currently, Kroger operates Turkey Hill convenience stores in Shenandoah, Ashland, Frackville, and Lavelle in northern Schuylkill County.