Fort Collins firm Schrader Oil sells to EG Group

FORT COLLINS — EG Group Ltd., which does business in the United States as EG Retail LLC, based in Westborough, Massachusetts, has acquired Schrader Oil. Co. of Fort Collins.

Schrader Oil has been operated by the Schrader family since 1937 and currently operates 18 convenience stores and fuel stations in Northern Colorado. It employs 150 people.

EG Group, based in Blackburn, England, already operates 88 Loaf ‘N Jug convenience stores in Colorado, employing about 1,500 employees. Schrader Oil sites will be rebranded to Loaf ‘N Jug.

“We have a firm commitment to continue growing our presence in the USA, the world’s largest convenience market. We are extremely pleased to have reached an agreement to acquire Schrader Oil as another strong network addition to our existing business,” Mohsin Issa, founder and co-CEO of EG Group, said in a written statement.

“We are thrilled to be passing the baton to a highly successful and growth-oriented company in EG,” said Steve Schrader, president of Schrader Oil.  “We believe they have the capability to take our success and continue to support our community for many years to come.  We believe we have found the best fit for our family, our employees, and our community.”

In the U.S., EG Group owns and operates Cumberland Farms, Certified Oil, Fastrac, Kwik Shop, Loaf ‘N Jug, Minit Mart, Quik Stop, Tom Thumb and Turkey Hill. The purchase of Schrader Oil will take EG Group’s network to more than 1,700 stores across the country, operating in 33 states and retailing more than 2.5 billion gallons of fuel with merchandise sales of more than $3 billion on an annualized basis.

The terms of the transaction were not disclosed, but the deal is being funded using existing cash reserves and is not material to EG Group’s balance sheet, the company said. The transaction is expected to close by the end of 2020, subject to customary regulatory approvals. All site and field-based employees of Schrader will transfer to EG Group.

© 2020 BizWest Media LLC