EG On the Move
 | |
| Company type | Private |
|---|---|
| Industry | Retail |
| Founded | June 2023 |
| Founder |
|
| Headquarters | , United Kingdom |
| Website | https://eg-otm.com |
EG On the Move Limited is a British operator of filling stations, convenience stores and food service providers in the United Kingdom. It was founded in June 2023 by Zuber and Imraan Patel, both of EG Group, but to be run as a separate business to EG Group.
In June 2024 it was reported that Zuber Issa would step down from being co-chief executive of EG Group to focus on EG On the Move.[1] The company is notably the master franchisee for Cinnabon in the United Kingdom, after acquiring the rights from EG Group circa May 2024.[2]
History
[edit]In March 2001, brothers Mohsin and Zuber Issa founded Euro Garages, with the purchase of a single BP forecourt in Bury, Greater Manchester for £150,000.[3] From 2001 onwards, the brothers would then acquire numerous forecourts, such as from oil majors (such as BP and Esso) who were seeking to dispose their retail interests to focus on other interests.[4] The brothers would also implement concessions such as fast-food and convenience store providers at their sites, such as Spar, Starbucks and Burger King.[5]
In October 2020, the brothers would then acquire British supermarket chain Asda, alongside TDR Capital.[6] In May 2023, it was announced that Asda would acquire a significant number of EG Group's UK forecourts and foodservice locations.[7] In December 2023, it was announced that Yum! Brands would acquire EG Group's 218 KFC franchises across the UK and Ireland.[8] In May 2024, it was announced that Zuber would acquire a number of EG Group's remaining UK properties, via EG On the Move.[9]
In July 2024, it was announced that British supermarket chain The Co-operative Group (Co-op) had signed a franchise agreement with EG On the Move.[10] By mid-September 2024, it was announced that six of the seven proposed Co-ops had been opened.[11]
See also
[edit]References
[edit]- ^ "'We have had an amazing journey': Zuber Issa to step down as EG Group CEO". Lancashire Telegraph. 7 June 2024. ISSN 0307-1235. Retrieved 1 September 2024.
- ^ "Cinnabon UK". Cinnabon UK. Retrieved 21 September 2024.
- ^ McCall, Alastair; Watts, Robert (7 May 2017). "High-octane rise of brothers' firm shows family value". The Sunday Times. p. 3.
- ^ Robinson, Jon (7 June 2024). "Issa brothers: How to turn a petrol station into an empire". CityAM. Retrieved 18 August 2024.
- ^ Robinson, Jon (7 June 2024). "Issa brothers: How to turn a petrol station into an empire". CityAM. Retrieved 18 August 2024.
- ^ "Asda bought by billionaire Issa brothers in £6.8bn deal". BBC News. 2 October 2020. Retrieved 18 August 2024.
- ^ Hegarty, Ronan; Mattinson, Alec; Leyland2023-06-02T11:24:00+01:00, Adam. "Asda's EG Group acquisition: everything you need to know". The Grocer. Retrieved 18 August 2024.
{{cite web}}: CS1 maint: numeric names: authors list (link) - ^ restaurantonline.co.uk (6 December 2023). "KFC to acquire 218 restaurants from EG Group". restaurantonline.co.uk. Retrieved 18 August 2024.
- ^ Wright, Georgia (20 May 2024). "Zuber Issa to acquire EG's UK arm as group returns to profit - Retail Gazette". Retrieved 18 August 2024.
- ^ Wright, Georgia (9 July 2024). "Co-op signs franchise deal with Zuber Issa's EG Group as it targets 'significant growth' - Retail Gazette". Retrieved 18 August 2024.
- ^ Morrison2024-09-11T14:49:00+01:00, Juliet. "Zuber rolls out his new build formula for site six of seven Co-op franchised locations". Forecourt Trader. Retrieved 11 September 2024.
{{cite web}}: CS1 maint: numeric names: authors list (link)