14.10.2019

EG Group considering IPO

Top 50 Indie Euro Garage’s parent company EG Group is said to be considering an initial public offering next year which, according to financial press reports, could value it at anything between £5-£10bn.

Brothers Mohsin and Zuber Issa founded Blackburn-based Euro Garages in 2001 with the acquisition of a single petrol filling station in Bury, Greater Manchester, and since then have grown their UK network to 386 sites at the last count (Top 50 Indies, March 2019), with an ongoing development plan of leading edge sites.

However in recent years the inspirational brothers have also been focused on expanding their international portfolio and now have more than 5,200 sites in Europe, North America and Australia.

Its most recent significant overseas acquisition was Cumberland Farms which operates about 600 convenience retail stores and fuel stations across seven north-east states and Florida, increasing its estate in the US to just shy of 1,700 sites, only 16 months after its first acquisition in the country.

[Source: Forecourt Trader Online]