The £85 million acquisition by billionaire Zuber Issa's EG On The Move of 85 petrol stations previously owned by Prax Group is set to significantly reshape the UK's competitive fuel retail landscape. This strategic move follows closely on the heels of Issa's decision to divest his shares in EG Group, the conglomerate he co-founded with his brother Mohsin.
The acquired sites, which were part of the Morrisons supermarket chain's forecourt network and Motor Fuel Group (MFG), represent a substantial addition to EG On The Move's portfolio. With this acquisition, Issa is actively building his new venture in what remains a highly fragmented market.
This deal underscores Zuber Issa's continued ambition within the petrol station market, where consolidation and restructuring are becoming increasingly prevalent. By acquiring these 85 sites, EG On The Move gains a substantial foothold in the sector, potentially influencing pricing strategies and convenience retail offerings across its locations.
The acquisition also signifies an opportunity for standardisation and rebranding under the new ownership. For Zuber Issa, this move is a clear statement of intent, demonstrating his commitment to growing a significant presence in the retail fuel sector independently from EG Group and Asda.