EG Group is preparing to formally kick off plans for a U.S. stock market listing valued around $9 billion, according to a report by Sky News.
The company is expected to hold a selection process for banks in London next week to select advisers for the initial public offering (IPO), which sources say could take place later this year, according to Sky News.
Global banks—including Barclays, Bank of America, Goldman Sachs, JP Morgan and Morgan Stanley—are all likely to participate in the selection process, according to banking sources cited by Sky News.
One banking source told Sky News that after accounting for recent disposals, the company’s valuation is expected to be between $8 billion and $9 billion.
- EG America is No. 6 on CSP’s 2025 Top 202 ranking of U.S. c-store chains by store count.
Founded in Blackburn, U.K., EG Group founders and brothers Mohsin and Zuber Issa hold about 25% of the company each, while London-based private equity firm TDR Capital owns about 50% of the business.
In addition, EG Group on Monday appointed Roland Smith as chairman to succeed Lord Stuart Rose. Rose will remain a member of EG Group’s board as a non-executive director to provide continued strategic counsel to the business.
Smith most recently served as chairman and CEO of Office Depot OfficeMax Inc. Prior to this role, he held a series of senior executive positions at leading food-to-go and leisure operators, including roles as president and CEO of Wendy’s International Inc., CEO of Arby’s Restaurant Group Inc., president and CEO of American Golf Corp., and chairman and CEO of AMF Bowling Worldwide Inc. and more.
"Roland is a highly respected and experienced executive with deep consumer industry and boardroom experience," said Russ Colaco, CEO of EG Group. "Attracting an industry leader of Roland’s caliber and expertise will strengthen our board as we execute on our growth strategy across convenience retail, foodservice and fuel offerings."
In December 2024, reports said EG Group was considering a $14 billion public stock listing in the United States. But then in April 2025, EG Group appointed Russell Colaco as CEO as co-founder Mohsin Issa stepped down. Issa said at the time that after the sale of its U.K. business, the United States is EG’s largest region by sales, and the company needed its lead executives there. In August 2025, EG Group agreed to sell its Italian and Australian businesses.
EG Group is relocating its headquarters to Charlotte, North Carolina, further transitioning itself to being a U.S.-managed organization.
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