Euro Garages

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
EG Group
Private
Founded 2001
Founder Zuber Issa
Mohsin Issa
Headquarters Blackburn, United Kingdom
Area served
United Kingdom, Germany, France, Belgium, Netherlands, Luxembourg, Italy, United States of America
Key people
Zuber Issa (co CEO)
Mohsin Issa (co CEO)
Michael Hughes (CFO)
Imraan Patel (Group General Counsel)
Owner TDR Capital & Issa brothers
Number of employees
26,000 (2018)
Parent EG Group Limited
Divisions EG Shared Services, EG Fuel, EG Business, EG Retail
Website eurogarages.com

EG Group is a British retailer based in Blackburn which operates petrol stations in Europe and the United States. By May 2018, it operated more than 3,600 locations. The group was created through the combination of Euro Garages and EFR Group in November 2016.

Overview[edit]

EG Group sites include Esso, BP, Shell and Texaco fuel supplies, as well as the retailers Spar, Carrefour and Louis Delhaize, Starbucks, Burger King and Subway.

Group executive team[edit]

Zuber Issa and Mohsin Issa are co CEOs.[1]

Michael Hughes is the group CFO.[2]

Imraan Patel is the group general counsel and company secretary.[3]

Ilyas Munshi is the commercial director.[4]

Individuals within the group executive team have received many accolades, including 2016 NACS Insight European Convenience Industry Leader of the Year for Mohsin Issa and Zuber Issa[5]. The Issa brothers have been named in numerous rich lists.[6] Imraan Patel was shortlisted as "General Counsel of the Year" at The Lawyer Awards 2018[7] and was highly commended in the same category at The British Legal Awards 2017. Ilyas Munshi has collected a number of awards.

History[edit]

Euro Garages was co founded by brothers Mohsin Issa and Zuber Issa of Indian Gujarati descent in 2001, who expanded the business from a single site in Bury, Greater Manchester.[8] In October 2015, the private equity firm TDR Capital acquired a stake in the company.[9] In October 2016, Euro Garages acquired the Dutch headquartered EFR Group from TDR Capital to form Intervias Group, later renamed EG Group.

EFR was founded in 2007, and was the European energy retail and marketing arm of Delek Group, before being acquired by TDR Capital in August 2014. As a consequence of these transactions, TDR Capital now own 50% of the enlarged group, with Zuber Issa owning 25% and Mohsin Issa the remaining 25%. The combination of EG and EFR sought to create a scaled and diversified pan European platform that shares best practices and economizes on common shared services, led by EG’s highly respected group executive team.

The business is headquartered in Blackburn, United Kingdom[1] and has announced plans to construct a new global headquarters building, also in Blackburn.[10] It remains one of the largest privately owned businesses in the United Kingdom.[11]

Major acquisitions[edit]

In November 2017, the business secured approximately 1,000 forecourt assets from Esso in Germany, which will be transferred and integrated into the existing EG network in the end of 2018.[12] On 5 February 2018, EG Group announced that it will purchase nearly 800 Kroger convenience stores for $2.15 billion.[13] Later that month, EG Group announced that it had completed the acquisition of circa 1,200 sites in Italy from Esso.[14]

In April 2018, EG Group completed the acquisition of a portfolio of 97 sites in the Netherlands to supplement is existing network in the country.[15] By the end of 2018, EG Group will own and operate c.4,600 sites across Europe and the United States, and will generate pro forma revenues of more than US$18.5 billion.

References[edit]

  1. ^ a b Bounds, Andrew (20 January 2015). "Convenience shopping boosts Euro Garages". Financial Times. Retrieved 7 May 2017.
  2. ^ "EG recruits two senior executives - Forecourt Trader". forecourttrader.co.uk. Retrieved 2018-04-11.
  3. ^ "Euro Garages appoints Group General Counsel | Euro Garages News". www.eurogarages.net. Retrieved 2018-04-11.
  4. ^ "Blackburn company joins forces with one of Europe's biggest petrol station groups". Lancashire Telegraph. Retrieved 2018-05-11.
  5. ^ "U.K.'s Euro Garages Named European Convenience Leader". Convenience Store News. Retrieved 2018-05-11.
  6. ^ "Euro Garages brothers' £1.3bn fortune puts them in UK Asian rich list top 10". Lancashire Telegraph. Retrieved 2018-05-11.
  7. ^ "The Lawyer Awards 2018 Categories". www.thelawyerawards.com. Retrieved 2018-05-11.
  8. ^ McCall, Alastair; Watts, Robert (7 May 2017). "High-octane rise of brothers' firm shows family value". The Sunday Times. p. 3.
  9. ^ Begum, Shelina (20 October 2015). "TDR Capital takes a bite into Euro Garages for £1.3bn". Manchester Evening News. Retrieved 7 May 2017.
  10. ^ "Euro Garages wins approval for new HQ - Forecourt Trader". forecourttrader.co.uk. Retrieved 2018-04-11.
  11. ^ "Euro Garages ranks as UK's sixth biggest private company - Lancashire Business View". Lancashire Business View. 2017-06-30. Retrieved 2018-05-11.
  12. ^ "ExxonMobil and EG Group Enter into New Partnership for German Esso Stations". EG Group. 2017-11-29. Retrieved 2018-04-11.
  13. ^ CNBC (2018-02-05). "Kroger to sell its convenience stores to UK's EG Group for $2.15 billion". CNBC. Retrieved 2018-02-07.
  14. ^ "EG Group completes on 1,200 Esso sites in Italy - Forecourt Trader". forecourttrader.co.uk. Retrieved 2018-04-11.
  15. ^ "Nieuws | NRGValue". NRGValue (in Dutch). Retrieved 2018-05-11.