EG Group weighs up £8bn Subway takeover
EG Group praised its “successful foodservice business” last month after its reported profits rose 1.9% to £1.23bn for the full year
The EG Group, which owns Asda, is reportedly considering an £8bn takeover of sandwich chain Subway, according to the Sun.
Mohsin and Zuber Issa, the owners of EG, are said to be considering adding Subway to its portfolio that already includes Leon and KFC’s biggest franchise.
EG Group already has Subway restaurants in some of its petrol stations around the world thanks to franchising deals.
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.”
Other reports suggest that EG group and the Issa brothers had bid for Cafe Nero and looked into a takeover of Boots.
EG Group praised its “successful foodservice business” last month after its reported profits rose 1.9% to £1.23bn for the full year.
