EG Group acquire Asda’s petrol stations for $1 billion

Following the acquisition of the supermarket chain, the British retailing group have agreed the purchase of Asda’s forecourt business, including car washes.

EG Group has agreed to acquire certain assets of Asda, comprising its petrol filling stations, car washes and ancillary land for a value of £750 million ($1.2 billion).

The acquisition of the forecourt business comes after the Issa brothers and TDR Capital LLP had been given the green light to acquire a majority ownership stake in the Asda supermarket business.

The forecourts, which will remain an integral part of the broader retail locations where they are situated, will continue to be Asda branded and will remain a low price leader in the fuel market, according to EG Group.

“We are excited to have the opportunity to further strengthen our network in the UK through the proposed acquisition of Asda’s forecourt business, which will enhance our position as a major independent forecourt operator and provide a platform for future growth of the combined network,” said the Issa brothers.

Asda has a network of around 320 petrol stations located in big retail areas. They are known for competing in the low price range. Some include car washes and convenience stores.

Their Euro Garages brand, founded in 2001, has since established itself as one of the UK’s fastest growing and most recognisable forecourt operators, with an expanding portfolio of around 4,500 sites across the UK, mainland Europe, the USA and Australia.