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Technology/Services

EG Group Sells Fuel Card to Wex

Company says sale is ‘consistent with global strategy’
Photograph courtesy of EG Group

BLACKBURN, U.K. — EG Group has completed the sale of its fuel card business to Wex Inc., a financial technology service provider.

The Go Fuel Card business is based in Breda, Netherlands, with approximately 200,000 proprietary cards in circulation across the Netherlands, France, Belgium and Luxembourg. The company operates on an independent proprietary card network and is accepted at more than 5,000 retail sites.

“We are pleased to announce the sale of our fuel cards business to Wex Inc. This sale is consistent with our global strategy and, more importantly, enables EG Group to focus more on our direct retail operations,” said Mohsin Issa, founder and co-CEO of EG Group. “EG Group already works with Wex Inc. across our existing international network, and this sale will serve to enhance our strategic partnership commitment to our commercial customers.”

Wex, based in Portland, Maine, is a financial technology service provider across a variety of sectors, including fleet, travel and healthcare. It operates in more than 10 countries and in more than 20 currencies through upward of 4,800 associates. Approximately 13.1 million vehicles use Wex fleet cards; purchase volume in its travel and corporate products grew to $34.7 billion in 2018.

Founded in 2001 by the Issa family, Blackburn, U.K.-based EG Group is a retail convenience operator. The company has about 5,200 convenience stores and gas stations in the United Kingdom, Europe, the United States and Australia. In the United States, it is No. 8 in CSP’s 2019 Top 202 ranking of U.S. c-store chains by number of retail outlets.

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