Issa Brothers Founded EG Group in 2001

  • Asda acquires EG Group’s UK and Ireland fuel, foodservice, grocery, and merchandise business for £2.27bn
  • Asda will own around 350 petrol stations and over 1,000 food-to-go locations
  • EG Group was founded by the Issa brothers in 2001
  • Asda now has 170,000 employees, nearly 600 supermarkets, and 700 petrol forecourts
  • EG Group to focus on international growth and sustainable fuel retail infrastructure

Asda has acquired the majority of EG Group’s UK and Ireland fuel, foodservice, grocery, and merchandise business in a deal worth £2.27bn. This acquisition will give Asda ownership of around 350 petrol stations and over 1,000 food-to-go locations. The UK’s third largest supermarket, Asda, is owned by brothers Zuber and Mohsin Issa and private equity group TDR Capital. With this deal, Asda now has 170,000 employees, nearly 600 supermarkets, and 700 petrol forecourts. EG Group will continue to focus on international growth and sustainable fuel retail infrastructure.

Factuality Level: 8
Factuality Justification: The article provides accurate and relevant information about the acquisition of EG Group’s UK and Ireland fuel, foodservice, grocery, and merchandise business by Asda. It includes quotes from key figures involved in the deal and gives a brief history of EG Group. However, it lacks some details on the specifics of the deal and the impact on both companies.
Noise Level: 3
Noise Justification: The article provides relevant information about a significant acquisition and expansion of Asda’s business. It includes quotes from key figures involved in the deal and mentions future plans for growth and sustainability efforts. However, it lacks analysis or exploration of broader trends or consequences.
Financial Relevance: Yes
Financial Markets Impacted: Asda and EG Group
Financial Rating Justification: The acquisition of EG Group’s UK and Ireland fuel, foodservice, grocery and merchandise business by Asda impacts the financial markets as it involves a significant £2.27bn deal and affects both companies’ operations and growth strategies.
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: Minor
Extreme Rating Justification: There are no extreme events mentioned in the article.

Reported publicly: www.retailsector.co.uk