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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Nov- 2023 -15 NovemberSupermarkets
Asda cuts debt as Q3 sales slow
Asda has announced that it has shaved ยฃ300m off its debt pile during the third quarter of the year while also revealing it has seen its sales slow during the period. In the three months to the end of September, the supermarket paid off the ยฃ200m loan it took out…
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1 NovemberNews
Today’s news in brief-1/11/23
Asda has successfully finalised its acquisition of EG Group’s UK business, a deal valued at a substantial ยฃ2bn. This strategic move allows Asda to take ownership of EG Group’s UK&I operations, which encompass fuel, foodservice, grocery, and merchandise businesses. Notably, EG Group has clarified that it will retain operations in…
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1 NovemberSupermarkets
Asda acquires EG Groupโs UK business for ยฃ2bn
Asda has completed its acquisition of EG Groupโs UK business in a deal valued at ยฃ2bn.ย The move has seen the supermarket acquire EG Groupโs UK&I fuel, foodservice, grocery and merchandise business. EG Group said it will continue to operate in the USA, Australia, Germany, France, Italy, the Netherlands, Luxembourg…
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Oct- 2023 -9 OctoberNews
Asda rebrands first 11 Co-op sites into Express stores
Asda has launched its programme to convert 116 convenience stores and attached petrol station forecourts acquired from the Co-op Group last year to its Asda Express convenience brand. The 11 sites are the first tranche to be rebranded Asda Express, with the remaining 105 sites due to be converted by…
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Sep- 2023 -11 SeptemberSupermarkets
Morrisons considers offloading petrol forecourts in ยฃ2.5bn deal
Morrisons is considering offloading its 340 fuel retail sites in a ยฃ2.5bn acquisition by CD&R-owned Motor Fuel Group (MFG), Sky News has reported.ย ย News of the talks between Morrisons and MFG comes months after CD&R stopped a potential sale of the latter business.ย It is understood that the retailer opened…
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Aug- 2023 -16 AugustSupermarkets
EG Group offloads 63 convenience stores in the USย ย
EG America, a subsidiary of EG Group, has agreed to sell 63 of its US convenience stores to convenience store chain Caseyโs in a bid to reduce its debt. The stores in question are located in Kentucky and Tennessee, and currently operate under the Minit Mart and Certified Oil banners.…
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Jul- 2023 -26 JulyFeatures
From Tesco to tiles: The eight largest mergers and acquisitions of 2023
This year has seen a large number of M&A deals in the retail industry. In fact, the number of UK retail merger and acquisition deals increased by 23% in the last year, a five year high, according to data from law firm RPC. With more and more retailers looking for…
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Jun- 2023 -15 JuneSupermarkets
Issa Brothers near ยฃ650m Asda property sale
Mohsin and Zuber Issa are on the brink of selling a part of Asdaโs property portfolio to a US investor in a deal worth ยฃ650m, The Times has reported.ย According to The Timesโ understanding, following a โcompetitiveโ bidding process, the New York-based investor Realty Income Corporation is close to buying…
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14 JuneSupermarkets
Asda to freeze prices on more than 500 products
Asda has announced that it has frozen the prices of over 500 branded and own-branded products following an investment to โgive customers more control over what they spend each weekโ. The price lock, which runs until the end of August, includes cupboard essentials such as cereals, pasta and tea, as…
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9 JuneSupermarkets
EG Group to amend and extend loan following Asda deal
Retail and petrol forecourt company, EG Group, has announced that it will seek to amend and extend its banking loans following the sale of its UK operations to Asdaโs Issa Brothers.ย This three-year amendment and extension will reportedly apply to the groupโs remaining $3.4bn (ยฃ2.7bn) of term loans due in…
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