Zuber Issa exploring £500m sale of Asda stake in split with brother February 4, 2024 One of the billionaire Issa brothers, who together co-own Asda alongside a private equity firm, is reportedly trying to offload his stake in the supermarket as it grapples with a mounting debt pile.
Issa brothers’ EG Group sees fuel gross profit margins reduce slightly after war in Ukraine May 24, 2022 The Issa brothers’ EG Group has seen its fuel division’s gross profit margins slim slightly after Russia’s invasion of Ukraine. Across the firm’s fuel arm, gross profit hit $481m in the three months to 31 March, a 16 per cent increase compared to the first quarter of 2021. However, its gross profit margins were slightly [...]
EG Group to create 22.7k UK jobs by 2026 as Issa brothers’ food service arm swells April 21, 2022 Petrol forecourt operator EG Group has said it will create some 22,700 jobs in the UK in the next four years. The billionaire Issa brothers’ company has said it will provide some 32,000 jobs across the world over the next few years, thanks to investment in its foodservice arm. Jobs will be created across EG’s [...]
Asda’s Issa brothers close to $300m US convenience store takeover November 3, 2021 The billionaire brothers behind EG Group and Asda are almost at the finish line for a deal to acquire Sprint Food Stores, a US convenience store chain, for $300m. The move would mean the tycoons would extend their presence in the US to 33 states, according to Sky News, who first reported news of the [...]
Billionaire Issa brothers plot $35bn merger of Asda with their EG Group petrol stations November 27, 2021 The billionaire brothers behind last year’s mammoth acquisition of Asda are now mulling a merger of the grocer with their petrol and forecourts business EG Group. A merger between the two businesses is one of a few strategy options that the Blackburn-based entrepreneurs are considering for their global forecourt empire EG group. If they were [...]
Issa brothers’ EG Group acquires UK’s second-largest bakery business October 4, 2021 Petrol station forecourt giant EG Group has acquired the country’s second-largest bakery business, Cooplands The Issa brothers’ firm has acquired CS Food Group Holdings Limited, which operates a number of bakeries that produce and distribute fresh food to some 180 stores and cafes. The bakery business mostly operates across the north-east and Yorkshire regions and [...]
Plans for an Asda ‘town centre’ linking London’s Old Oak and Park Royal May 13, 2024 The Issa brother-owned grocer has entered into an agreement with developer Barratt, on a Brownfield site, currently home to a superstore, marking a "significant milestone" for the firm.
EG Group’s billionaire Issa brothers snap up 52 KFC sites September 27, 2021 Petrol stations giant EG Group has snapped up over 50 KFC sites across the south of the UK for a not-yet-disclosed sum. It follows the Issa brother’s acquisition of Asda for £6.8bn last year with private equity group TDR Capital. The 52-KFC-site deal, with former owner of the sites Amsric Group, involves around 1,600 employees, [...]
Asda tycoons’ private jets flew to the Caribbean 50 times, data reveals April 22, 2024 The private jets of Asda's billionaire owners, the Issa brothers, flew between London and the Caribbean more than 50 times over a two-and-a-half-year period, City A.M. can reveal.
CMA clears Issa brothers’ Asda takeover after accepting petrol station sale June 16, 2021 The UK’s competition authority has today cleared the way for the Issa brothers’ £6.8bn takeover of supermarket Asda after accepting their offer to sell off 27 petrol stations. The Competition and Markets Authority (CMA) had launched a probe into the deal in April due to fears that acquisition could increase petrol prices for motorists. The [...]