UK: EG Group sells 27 petrol stations to Park Garage Group

The moves follows competition concerns regarding EG Group’s separate acquisition of Asda, which was believed to damage road fuels market competition on local areas.

EG Group has entered into a binding agreement to divest 27 petrol filling stations, located throughout the UK, to Park Garage Group. The moves follows competition concerns regarding EG Group’s separate acquisition of Asda Group Limited.

In June 2021, UK Competition and Markets Authority’s announced that it had agreed formal undertakings offered by Mohsin Issa, Zuber Issa and TDR Capital LLP to divest some of EG Group’s sites to address concerns on 36 local areas where it believed the road fuels market competition could be damaged if EG Group’s owners bought Asda.

UK Competition and Markets Authority wanted each of the sites to be sold to a player that would continue to operate them in the fuel retail business in order to maintain competition in local areas.

All existing EG colleagues employed at the sites will transfer to Park Garage Group.

“We received significant interest in the sites we marketed, reflecting how these high-quality assets have been acquired, developed and invested in by EG Group over the last few years. We are pleased that the sites will be going to an established industry operator in Park Garage Group, a family-run business that is growth orientated,” said co-founders and co-CEOs of EG Group, Zuber Issa CBE and Mohsin Issa CBE.

“We are delighted to have reached an agreement to acquire these sites, particularly due to their quality, which has been cultivated by EG Group. The acquisition underlines our commitment to growth and innovation, and will enable our sons, Manoj Tandon and Hemant Tandon, to further build our industry footprint,” commented Balraj Tandon MBE and Sunil Tandon, Chairman and Managing Director of Park Garage Group, in a joint statement.