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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Feb- 2024 -6 FebruaryNews
Asda to open 110 stores in February
Asda will open 110 Asda Express convenience stores in February โ a record for a single month โ to accelerate its growth strategy in convenience and put it firmly on track to reach 1,000 UK stores in total for the first time. The supermarket will convert 109 former convenience stores…
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5 FebruaryNews
Today’s news in brief-5/2/24
Authentic Brands, the owner of Ted Baker, is reportedly exploring cost-saving options after terminating its relationship with AARC, the company responsible for Ted Baker’s UK operation. The potential measures include store closures, job cuts, or a Company Voluntary Agreement (CVA) to reduce rent rates or exit stores. Authentic had provided…
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5 FebruarySupermarkets
Issa brother mulls sale of Asda stakeย
One of the Issa brothers is reportedly planning to offload his stake in Asda and instead focus on EG Groupโs petrol station business, The Telegraph has reported. Reports said that Zuber Issa has approached buyout specialists and retailers to explore a sale of his 22.5% stake in Asda, only three…
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Jan- 2024 -23 JanuarySupermarkets
Morrisons nears ยฃ2.5bn sale of forecourt business
Morrisons is reportedly close to agreeing a deal to sell its forecourts business to Motor Fuel Group (MFG) in a ยฃ2.5bn, according to Sky News. MFG and Morrisons are both majority owned by American private equity firm Clayton Dubilier and Rice (CD&R). Reports of talks between the two companies emerged…
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19 JanuaryNews
Asda to roll out 21 new stores by the end of January
Asda has announced that it will be adding 21 new convenience stores to its estate by the end of this month, with five opening their doors today (19 January). The announcement comes as the retailer continues its programme to convert the convenience stores acquired from the Co-op and EG Group…
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5 JanuaryNews
Today’s news in brief-5/1/24
Asda and Usdaw have signed a collective bargaining agreement, enabling the union to represent hourly-paid employees in convenience stores and Leon restaurants acquired from EG Group. Usdaw will negotiate on pay, hours, and holidays annually for employees across 356 convenience stores and 77 Leon restaurant sites. Asda’s Chief People and…
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5 JanuarySupermarkets
Asda and Usdaw sign collective bargaining agreement
Asda and Usdaw have signed a collective bargaining agreement that will see the union represent hourly-paid employees in the convenience stores and Leon restaurants that Asda acquired from EG Group. Following the agreement, Usdaw will negotiate on pay, hours and holidays annually for those employed in 356 convenience stores and…
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Nov- 2023 -30 NovemberNews
Today’s news in brief-30/11/23
Castore has successfully secured a ยฃ145m investment in a funding round led by Raine Partners. This investment aims to further disrupt the premium sportswear market and expand the brand’s global reach. Castore plans to develop its product range, enhance infrastructure, and invest in its people. The company, on track for…
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30 NovemberNews
EG Group EBITDA falls to $345m in Q3 following Asda acquisition
EG Group, the global food services and petrol forecourts operator, has revealed that its EBITDA dipped 18% to $345m (ยฃ272m) in Q3 2023.ย The group attributed the decline to the impact of lower fuel volumes and a competitive environment in the quarter, as well as comparisons with the exceptional fuel…
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15 NovemberNews
Today’s news in brief-15/11/23
Central Group, a Thai conglomerate and co-owner of Selfridges, has reportedly become the largest shareholder by converting a โฌ364m loan into equity. This move follows reports of financial troubles at Signa Group, the other key shareholder. Restructuring efforts were initiated due to rising borrowing costs and falling property valuations. Selfridges,…
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