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EG Group
 | |
| Formerly |
|
|---|---|
| Company type | Private |
| Industry | Retail |
| Founded | 2001 |
| Founder | |
| Headquarters | , United Kingdom |
Area served |
|
Key people |
|
| Brands |
|
| Revenue | $26.511 billion (2021)[3] |
Number of employees | 50,000+ (2021) |
| Parent | Optima Bidco (Jersey) Limited |
| Divisions |
|
| Subsidiaries |
|
| Website | eg.group |
EG Group Limited is a British operator of filling stations, convenience stores and food service providers across Europe, the United States and Australia. It was founded in Blackburn in 2001 by brothers Mohsin and Zuber Issa, initially as Euro Garages.
In October 2015, private equity firm TDR Capital purchased a minority stake in Euro Garages for £1.3 billion.[4] In October 2016, TDR's European Forecourt Retail Group (EFR) merged with Euro Garages to form Intervias Group, which would later be renamed to EG Group.[5]
The group's acquisitions have been largely funded by debt, with a net debt of nearly £8 billion in March 2023.[6] Since early 2023, the group has sold its U.S. forecourts in a sale-and-leaseback deal, as well as sold most of its UK assets to Asda, Zuber Issa (as EG On the Move) and Yum! Brands in an effort to reduce this debt.[7][8]
In December 2024, it was revealed the group were seeking to float in the United States at a valuation of £13 billion.[9] In January 2025, Zuber Issa stated that the business would likely be renamed to Cumberland Farms Group.[10]
- ^ a b c "EG Group Appoints Lord Stuart Rose as Chairman" (PDF) (Press release). EG Group. 21 January 2021. Archived (PDF) from the original on 29 September 2022. Retrieved 28 September 2022.
- ^ "The Board and Group Executive". (Group Leadership tab). EG Group. Archived from the original on 3 October 2022. Retrieved 15 December 2022.
- ^ "Annual Report 2021" (PDF). EG Group. Archived (PDF) from the original on 7 June 2022. Retrieved 7 June 2022.
- ^ Begum, Shelina (20 October 2015). "TDR Capital takes a bite into Euro Garages for £1.3bn". Manchester Evening News. Retrieved 23 January 2024.
- ^ "Euro Garages and EFR deal details emerge | TheBusinessDesk.com". North West. 6 October 2016. Retrieved 23 January 2024.
- ^ Morgan, Aoife (9 June 2023). "EG Group extends $3.4bn loan deadline following Asda deal – Retail Gazette". Retrieved 27 May 2024.
- ^ Faithfull, Mark. "EG America Owner Sells U.S. Gas Stations And Considers Asda Merger". Forbes. Retrieved 30 August 2024.
- ^ "Issa brothers fry off entire KFC franchise to slash debt mountain". CityAM. 6 December 2023. Retrieved 30 August 2024.
- ^ Morgan, Aoife (30 December 2024). "Issa Brothers eye $14bn float for EG Group – Retail Gazette". Retrieved 13 January 2025.
- ^ editor, Oliver Shah, Associate (11 January 2025). "Zuber Issa: 'We didn't understand what private equity was'". www.thetimes.com. Retrieved 13 January 2025.
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