Wednesday, 17 Jul 2024

Bolton billionaires eyeing up an £8billion takeover of sandwich chain

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It has been revealed the two brothers, Mohsin and Zuber Issa, who already own Asda, could be eying up a new acquisition. The popular fast-food giant Subway’s 44,000 restaurants could be taken under the wing in what is seen as an ideal fit.

The Sun has revealed the Blackburn-born brothers are set on buying the US food empire.

Mohsin, 51, and Zuber, 50, already have a Subway restaurant at some of its more than 6,300 petrol stations across the globe.

This is including at the 340 filling stations in Britain alone.

It has been reported that the brothers believe the US firm would be an ideal fit for their growing list of acquisitions.

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A source told the Sun: “EG Group have felt for a while that Subway treated them the same way as other franchise partners and their massive growth hadn’t been appreciated.

“So what better way to show who’s boss than owning them.”

Another source said: “It would make good sense.”

The two Asda owners started with one petrol station before expanding their empire upon teaming up with TDR capital, a private equity firm.

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The pair launched a petrol station acquisition spree shortly after.

However, they soon launched the £6.8billion takeover of Asda in 2021.

Since then, the EG Group acquired food chain Leon and attempted a purchase of Caffe Nero.

It has also eyed up a bid for health and beauty retailer Boots.

EG Group owns KFC’s biggest franchise and has relations with Krispy Kreme, Cinnabon, Greggs and Starbucks.

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