Blackburn’s EG On The Move has acquired nearly 100 sites from service station giant Applegreen.
Applegreen’s UK petrol filling station business has 98 sites and employs 1,142 people and will be acquired by EG On The Move in a yet undisclosed fee.
Staff employed by Applegreen’s UK are expected to transfer to the new owners as part of the transaction, apart from a very small number of employees.
It is reported, Applegreen will re- invest the proceeds into its continuing business including the Welcome Break motorway services and hotels in the UK and Northern Ireland, as well as operations in Ireland and the US.
Applegreen co-founder and chief executive Joe Barrett, said: “We remain totally committed to our presence and further expansion in the UK market and have significant plans to expand both Welcome Break and our EV charging business there, as part of the €1bn investment plan that we announced late last year.”
There was speculation in early December that a deal would be imminent.
Brothers Zuber and Mohsin Issa bought Asda from Walmart in 2020, in a £6.8 billion deal with the backing of TDR Capital.
Zuber Issa sold his stake in Asda TDR Capital in June and also said he would step down as co-chief executive of EG Group after reaching an agreement to buy its remaining UK forecourt business and some food service sites for £228 million.
Zuber kept his shareholding in EG Group and continued as a non-executive director, while his brother Mohsin became sole chief executive once the deal completed.