A Bailey Avenue gas station and convenience store that operates under the Fastrac Cafe brand now has a new owner, after its East Syracuse-based parent was acquired by a global corporation based in the United Kingdom.
EG Group, a Blackburn, England-based company, completed its purchase this month of Fastrac Markets' retail and gas stations, as well as its wholesale fuel business.
Terms were not disclosed. But the deal includes the store and cafe at 2751 Bailey, which was purchased for $1.45 million from Dayce Enterprises LLC, controlled by Fastrac owner and CEO Tom Waddle, according to documents filed with the Erie County Clerk's office.
The deal adds 54 locations and 500 employees along the Thruway across Upstate New York to EG America's growing U.S. footprint, which now includes 1,042 stores in 24 states. The British company has been on a buying spree for the past year, with its purchase of 762 locations from Kroger Co. in April 2018 and another 226 Minit Mart stores last December from Travel Centers of America.
EG – formerly Euro Garages until 2016 – was originally founded in Manchester, England, in 2001 by brothers Zuber and Mohsin Issa. It has grown rapidly through acquisitions, particularly in recent years, as it gained 1,000 stores in Germany, 1,200 in Italy and 97 in the Netherlands. It's now the world's largest independent gas station and convenience-store company, with more than 5,000 locations across eight countries in Europe and North America.
It employs more than 30,000, with over $20 billion in annual revenues. It works with BP, Shell and Texaco, as well as Starbucks, Subway, Burger King and KFC. And its North American store brands include Loaf 'N Jug, Tom Thumb, Kwik Shop, Quik Stop, Turkey Hill and Minit Mart.
Fastrac's 24-hour stores and cafes sell coffee, pizza, subs, sandwiches, smoothies and milkshakes, along with gas and other products. The Bailey location is its only Western New York store.