EG On The Move has purchased almost 100 petrol stations from Applegreen, ensuring staff transfers and future investments.
These stations are part of Applegreen’s UK operations, which include 98 sites and over 1,100 employees. The exact price for the deal hasn’t been shared yet, but it’s a significant acquisition.
Most of the staff from Applegreen will transition to the new owners, with only a few exceptions. It’s good to see that they’re keeping the workforce intact.
Applegreen plans to reinvest the money from this sale into their other ventures, like Welcome Break services and hotels in the UK and Northern Ireland, plus their operations in Ireland and the US.
Joe Barrett, the co-founder of Applegreen, mentioned they’re still committed to growing in the UK. They have big plans for Welcome Break and their electric vehicle charging business, backed by a €1 billion investment plan announced last year.
There were whispers about this deal happening back in early December, so it’s nice to see it come to fruition.
You might remember that Zuber and his brother Mohsin bought Asda from Walmart back in 2020 for a whopping £6.8 billion, with help from TDR Capital.
Recently, Zuber sold his stake in Asda to TDR Capital and decided to step down as co-CEO of EG Group. He’s still involved as a non-executive director, while Mohsin has taken over as the sole CEO after the deal wrapped up.
