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.
-
May- 2023 -31 MaySupermarkets
Asda chair slams โclumsyโ food price cap plan
The chair of Asda and EG Group has criticised the governmentโs โclumsyโ plan to introduce price caps on food staples. On a call to reporters, Lord Rose, who is also the former boss of Marks and Spencer, told outlets that โyou canโt interfere in the marketsโ and warned of the…
Read More » -
30 MaySupermarkets
Asda acquires EG Group UK for ยฃ2.27bn
Asda has announced that it has acquired the majority of EG Groupโs UK and Ireland fuel, foodservice, grocery and merchandise business in a deal worth ยฃ2.27bn. The deal means that Asda will take ownership of around 350 petrol stations and more than 1,000 food-to-go locations. The UKโs third largest supermarket…
Read More » -
26 MaySupermarkets
Asda owners set to announce ยฃ10bn merger with EG Group
The owners of Asda are said to be in the final stages of completing a ยฃ10bn merger between the supermarket and petrol forecourt company EG Group, Sky News has reported. The Issa Brothers, who own both the supermarket chain and EG Group, are reportedly finalising a deal alongside TDR Capital…
Read More » -
10 MaySupermarkets
Asda targets Express expansion with new Caine store
Asda has announced plans to open a convenience store in Calne on Tuesday 23 May, which will mark the retailerโs third โAsda Expressโ format and create 15 new jobs in the community. The store will be located just outside of the town centre on London Road and the new format…
Read More » -
Apr- 2023 -27 AprilSupermarkets
Asda and EG merger threatens food supply and jobs, says GMB
The merger between Asda and petrol forecourt business EG Group will threaten the UKโs food supply, fuel prices and 100,000 jobs, the GMG union told the trade secretary Kemi Badenoch in a letter. In the letter, the union pointed out that Asdaโs debts are already thought to be more than…
Read More » -
Mar- 2023 -27 MarchSupermarkets
Issa brothers near ยฃ12bn Asda forecourts dealย
The billionaire owners of Asda are reportedly nearing the completion of a merger of the supermarket chain and its UK petrol stations, which are operated by EG Group. According to The Sunday Times, the move forms part of efforts to cut the forecourt groupโs debt burden. The deal is reportedly…
Read More » -
13 MarchSupermarkets
Issa brothers mull sale of Asda properties as debt costs rise
The Issa brothers are reportedly planning to explore a sale of Asdaโs ยฃ8.6bn property estate in a bid to tackle its rising debt costs.ย According to The Telegraph, property experts have been drafted in to โassess the prospects for the supermarketโs estateโ.ย However, it is believed the Asda owners, who…
Read More » -
10 MarchProperty
EG Group revenues jump 25% to $33bn
Asda owners the Issa brothersโ EG Group has revealed its full-year revenues surged 25% to $33.04bn (ยฃ22.5bn), which it said was boosted by the contribution of recent acquisitions. For the full year ended 31 December 2022, the groupโs EBITDA increased by 1.9% to $1.46bn (ยฃ1.28bn). It said its foodservice business…
Read More » -
Feb- 2023 -13 FebruarySport & Leisure
Castore in $200m fundraising talks in bid to rival Nike and Adidas
Sportswear brand Castore is reportedly in talks with investors about a $200m (ยฃ166m) fundraising deal as it aims to compete with sportswear giants Nike and Adidas. According to Sky News, Castore has appointed Rothschild to advise the process and secure a significant capital injection. Initial talks with prospective investors have…
Read More » -
Jan- 2023 -23 JanuarySupermarkets
Asda owners eye potential ยฃ13bn EG Group merger
Asda owners Mohsin and Zuber Issa are reportedly considering merging the company with the EG Group ahead of EGโs ยฃ7bn refinancing in 2025, according to the Times. Both companies are jointly owned by the blackburn-based brothers and private-equity company TDR Capital. The owners hope that by merging the businesses they…
Read More »
