EG Group completes divestment of remaining UK forecourts
Published on: Nov 4, 2024
Zuber Issa has acquired the service station business after stepping down and leaving Mohsin Issa as sole CEO.
EG Group has completed the sale of its remaining UK forecourt business and certain foodservice locations to co-founder Zuber Issa. The transaction proceeds will be used to repay debt.
As previously announced, following completion of the transaction, Zuber has now stepped down from his executive leadership capacity at EG Group, becoming a non-executive director. Co-founder Mohsin Issa will lead the Group as sole CEO, working closely with the business’ senior management team.
Recently, Zuber has redeveloped the EG brand into a new forecourt business by the name of EG On The Move. The company is expanding quickly, as it has struck a deal with Co-Op to establish roadside service stations and convenience stores throughout the UK.
The franchise agreement announced in July has seen an initial seven Co-op stores opening on forecourts, with the potential to grow.
EG On The Move is now a subsidiary of EG Retail Services, integrating traditional fuel services with modern convenience retailing, including electric vehicle (EV) charging stations.
