EG Group has agreed to sell 27 petrol stations, located throughout the UK, to Park Garage Group.
The move follows the Competition and Markets Authority’s announcement in June 2021 that it had agreed formal undertakings offered by Mohsin Issa, Zuber Issa and TDR Capital to divest some of EG Group’s forecourts to address the competition concerns relating to their separate acquisition of Asda Group.
All existing EG colleagues employed at the sites will transfer to Park Garage Group.
Zuber Issa and Mohsin Issa, co-founders and co-Chief Executives of EG Group, said: “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.”
Balraj Tandon and Sunil Tandon, Chairman and Managing Director of Park Garage Group, said: “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. We would like to thank EG Group for working seamlessly with us on this acquisition.”
