Cumberland Farms, a leading convenience store chain with over 3,200 sites in the US and Europe, filed on Thursday with the SEC for an initial public offering we estimate could raise up to $1 billion.
Cumberland Farms operates convenience stores and fuel stations, with more than 3,200 sites across the US and Europe as of March 31, 2026. Key markets include the Northeast in the US, and Germany and Benelux in Europe. The current company was formed through a series of acquisitions by UK-based EG Group. Over the past two years, the company has been divesting non-US operations, including its UK, Italian, Australian, and (pending) French businesses, to concentrate on its core US and European markets and pay down debt. Its business generates revenue across three main segments: fuel sales (74% of 1Q26 revenue), grocery & merchandise (19%), and foodservice (4%).
The Charlotte, NC-based company was founded in 1939 and booked $16.6 billion in revenue for the 12 months ended March 31, 2026. It plans to list on the Nasdaq under the symbol CMBY. Cumberland Farms (EG Group) filed confidentially on March 27, 2026. BofA Securities, Goldman Sachs, Jefferies, Barclays, J.P. Morgan, Wells Fargo Securities, Deutsche Bank, UBS Investment Bank, BNP Paribas, Rabo Securities, TD Securities, and Raymond James are the joint bookrunners on the deal.
