EG Group
This coverage explores EG Groupโs role and strategy within the UK retail sector, focusing on convenience retail, fuel stations, food-to-go operations, acquisitions, and financial developments. Reporting examines leadership decisions, market positioning, and integration of retail formats, offering insights for executives, managers, and professionals navigating multi-format and fast-moving retail environments.
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Sep- 2024 -19 SeptemberPeople Moves
Stuart Rose to lead Asda as Mohsin Issa steps back
Asda has announced that Mohsin Issa is set to step down from his executive responsibilities at the supermarket to focus on his previously-announced role as sole CEO of EG Group. Chair Stuart Rose will assume his responsibilities alongside Rob Hattrell, a partner at TDR Capital and a director on the…
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Jun- 2024 -7 JuneSupermarkets
TDR Capital to become majority owner of Asda as Zuber Issa exits
TDR Capital is set to become the majority owner of Asda, announcing that it has agreed to acquire Zuber Issaโs shares in the supermarket.ย Mohsin Issa will remain a co-owner in Asda alongside TDR Capital, and the ownership of Asda is now 67.5% by TDR Capital, 22.5% by Mohsin Issa, and…
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May- 2024 -21 MayNews
Today’s news in brief-21/5/24
Zuber Issa is poised to acquire the UK arm of EG Group, a move indicating the Issa brothers’ business paths are diverging. This acquisition excludes Cooplands bakery, certain Starbucks outlets, and EGโs electric vehicle charging business, Evpoint, with the deal expected to conclude by late June. Additionally, Zuber Issa is…
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21 MayProperty
Zuber Issa set to acquire EG Group UK arm
Zuber Issa is set to acquire the UK arm of EG Group showing further signs of the Issa brothers business interests diverging. The deal excludes the Cooplands bakery, some Starbucks stores, and EGโs electric vehicle charging business Evpoint and is set to be finalised by the end of June. The…
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Apr- 2024 -8 AprilNews
Today’s news in brief-8/4/24
The John Lewis Partnership has chosen Jason Tarry, former UK boss of Tesco, as its new chairman. Tarry, with over three decades of experience in retail, will succeed Sharon White in September. White led the company through challenging times, including the COVID-19 pandemic and economic crises. Tarry’s leadership is expected…
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8 AprilNews
Zuber Issa considering stepping down as EG Group co-CEO
EG Group co-founder Zuber Issa is reportedl considering stepping down as co-chief executive officer, leaving the company in the hands of his brother, according to Bloomberg. The move will reportedly happen only after Issa completes the acquisition of a number of sites from EG Group. Chief operating officer Salim Hasam…
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Mar- 2024 -5 MarchNews
Today’s news in brief-5/3/24
According to the British Retail Consortium (BRC), total retail sales rose by 1.1% in February year-on-year, attributed partly to February being the wettest on record. While food sales increased by 6%, non-food sales decreased by 2.5%, both below previous averages. In-store and online non-food sales also experienced declines. Despite positive…
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5 MarchSupermarkets
Issa brothers scale back EG Group investment to cut debts
Asda owners the Issa brothers have reportedly scaled back investment in their petrol forecourts business EG Group in a bid to reduce debts. According to the Telegraph, EG Group reduced its growth capex by 37% last year to ยฃ191m in what executives called a โcontrolled reductionโ to maximise liquidity. The…
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1 MarchSupermarkets
Asda co-owner to step back after โfixingโ supermarket
Asda co-owner Mohsin Issa has announced that he is set to step back from running the business after โfixingโ it. Speaking to the BBC, Issa said that he was carrying out a โresetโ of the retailer before hiring a new CEO. Despite the supermarketโs ยฃ5bn debt pile Issa insisted he…
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Feb- 2024 -6 FebruaryNews
Today’s news in brief-6/2/24
Revolution Beauty has settled a dispute with its former CEO and co-founder, Adam Minto. Minto will pay the company ยฃ2.9m over six years, starting with a payment of ยฃ483,333.35 due in March. The settlement follows delays in the company’s financial reporting during Minto’s tenure. Both parties agreed to settle without…
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