EG Group has set up a new company called EG On The Move to run the forecourts it is not selling to Asda, The Grocer can reveal.
It is currently trialling the forecourt branding at a petrol station in Bury. Depending on the success of the trial, EG Group will convert the remaining 31 forecourts that it has retained from the £2bn sell-off to Asda, which completed today.
The Grocer understands nine of the forecourts hold an Asda On The Move convenience store. These will be converted to Spar when Asda stops supplying them in March.
EG Group continues to work with Spar as its supplier and symbol group operator for the majority of its retained stores.
The move comes as Asda announced it had completed the acquisition of EG Group’s UK operations for an enterprise value of £2.07bn today.
It will see Asda Express rolled out across 356 of EG Group’s petrol stations, while 462 Greggs, Burger King and Subway outlets are transferred to the supermarket giant as franchise agreements. Asda also now wholly owns Leon, which it will also look to introduce to its stores.
While EG Group will continue to operate 32 sites in the UK, the company will also retain certain foodservice brands including Cooplands, its wholly owned bakery business, as well as franchise businesses with Starbucks, KFC, Sbarro, Chaiiwala and Cinnabon under the terms of the transaction.
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