Cumberland Farms owner EG Group filed confidentially for an initial public offering in the U.S., as it considers targeting a valuation of around $9 billion, according to two people familiar with the matter.

The U.K.-based gas-station operator--backed by private-equity firm TDR Capital--could raise around $1 billion in the offering, the people said.

EG Group and TDR Capital declined to comment.

The U.S. is EG Group's largest market by revenue and site locations, which it built through a string of acquisitions. EG Group has gas stations and convenient stores scattered across the country under different brands, like Cumberland Farms.

The company was founded by British billionaire brothers, Zuber and Mohsin Issa, who now own it alongside TDR Capital.

EG Group has scaled back operations in the U.K., selling its business there to grocery-store group Asda for 2 billion pounds ($2.64 billion) in 2023. EG's owners TDR Capital and Mohsin Issa also count Asda among their holdings while Zuber Issa sold his stake in the grocery chain.

In 2025, EG Group reported underlying earnings before interest, taxes, depreciation and amortization of $942 million, a 1% drop from the year prior.

Write to Aimee Look at aimee.look@wsj.com

(END) Dow Jones Newswires

June 24, 2026 06:50 ET (10:50 GMT)

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