EG Group agrees sale of its Australian business

Blackburn headquartered EG Group has announced that it has entered into a definitive agreement to sell its Australian business to Ampol.

The transaction values the EG Australia business at an enterprise value of A$1.1 billion (subject to customary closing adjustments), comprising A$850 million of cash proceeds and A$250 million of Ampol stock.

The sale will mark the group’s exit from the Australian market, with proceeds to be used to further reduce the group’s debt.

This sale represents further progress, following the announcement of an agreement to sell EG Italy on 11 August, 2025, in the group’s strategy to develop its core market operations, strengthen its balance sheet and reduce leverage.

Russ Colaco, CEO of EG Group, said: “This transaction is a significant milestone in our ongoing efforts to streamline EG Group’s global portfolio and sharpen our focus on the markets where we see the largest growth opportunities.

"I would like to sincerely thank the Australian leadership team and all our colleagues for their significant contributions to the business.

“We remain fully focused on executing our strategy and building a platform for further growth, with our world-class grocery and merchandise, foodservice and fuel retail proposition.”

The Australian transaction is subject to antitrust and other standard regulatory approvals, with completion expected by mid 2026.

BofA Securities acted as exclusive financial advisor and Gilbert + Tobin as legal advisor to EG Group on the transaction.

The EG Group was founded in 2001 and is a leading independent convenience retailer, which has established partnerships with global brands and a focused portfolio of proprietary brands.

It has operations in nine countries with its single biggest market by revenue being the USA, followed by Europe, including Italy, Germany, France, Netherlands, Luxembourg, Belgium and the United Kingdom, as well as Australia.

It employs 38,000 colleagues working in more than 5,500 high quality sites across its markets.