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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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…
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Nov- 2022 -22 NovemberNews
Leon to more than double self-serve coffee kiosks
Fast-food brand Leon has announced plans to more than double the number of its self-serve coffee kiosks in the UK to over 200 before the end of January. It is mainly planning to do this expansion in EG Group convenience stores and with a large rollout in Asda supermarkets. Four…
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8 NovemberSupermarkets
Asda opens first ‘Asda Express’ convenience store
Asda has opened its first standalone โAsda Expressโ convenience store in Sutton Coldfield in the West Midlands, creating 17 new jobs in the local community. A second Asda Express store will open at Tottenham Hale next month, followed by 30 sites next year, creating circa 500 new jobs. The launch…
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Sep- 2022 -2 SeptemberSupermarkets
EG Group profits hit by cost-of-living crisis in Q2
The Issa brothers-owned EG Group has seen its profits slump in Q2, as earnings fell by 6.5% to $355m (ยฃ307m) year-on-year amid โongoing inflationary and cost of living pressures on customer behaviourโ. Despite this, total revenues were up by 18.4% to $7.9bn (ยฃ6.8bn) on a like-by-like basis. The uptick in…
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Aug- 2022 -30 AugustSupermarkets
Asda eyes ยฃ450m bid for Co-op’s petrol forecourts
Supermarket group Asda is reportedly preparing to make a ยฃ450m swoop on the Co-op Groupโs petrol forecourt business, according to Sky News.ย The outlet reports that Asda is the leading contender to buy Co-opโs fuel retailing arm, which includes a sizeable convenience operation. According to the source, a deal could…
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Jun- 2022 -20 JuneSupermarkets
Asda paid ยฃ375m interest in takeover deal, accounts show
Asda reportedly paid ยฃ375.1m in interest as a result of its ยฃ6.8bn takeover deal last year according to recent accounts, The Times has reported.ย According to the paper, its new owners have not yet taken any dividends from the business, yet due to the ยฃ4.06bn of debt used to finance…
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May- 2022 -25 MayNews
EG Group revenues hit ยฃ5bn as foodservice profits surge 54%
The EG Group has reported that its revenues surged 25.1% year-on-year from $5.52bn (ยฃ4.4bn) to $6.91bn (ยฃ5.5bn) in the three months ending 21 March 2022 (Q1), driven by growth in its foodservice business. Foodservice operations saw a 54% rise in gross profits to $175m (ยฃ139.7m), compared to $114m (ยฃ91m) in…
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10 MaySupermarkets
Morrisons secures McColl’s deal saving 16,000 jobs and pensions
Alliance Property Holdings Limited, part of the Morrisons Group, has secured a rescue deal for embattled retailer McCollโs that will see all 16,000 staff transferred, alongside more than 1,100 nationwide outlets. The deal also sees Morrisons agreeing to rescue the group’s two pension schemes which have more than 2,000 members.…
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9 MaySupermarkets
Morrisons close to winning control of McCollโs amid last-ditch bid
Morrisons is thought to have won control of embattled retailer McColl’s after surpassing EG Group in a last ditch effort, according to Sky News. A deadline was set for 18:00 BST on Sunday for final bids, with EG Group thought well positioned for the purchase until Morrisons final hour bid.…
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6 MaySupermarkets
McCollโs collapses into administration, 16,000 jobs at risk
McCollโs has collapsed into administration in a move that places 16,000 jobs at risk, after lenders failed to extend its banking agreements. In a newly released statement, the retailer said it was โregrettably left with no choiceโ other than to appoint PwC as administrators, with the expectation that they intend…
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