“EG Group has entered into an agreement to divest its French operating business to EG On The Move, involving approximately 260 forecourt sites. The transaction, structured via a put option held by the buyer, represents a key move in EG Group’s strategic portfolio reshaping and debt reduction efforts. Completion is targeted for the second quarter of 2026, pending customary regulatory approvals in France. This deal marks EG On The Move’s first international expansion beyond the UK, while EG Group continues focusing on core markets, particularly its strong U.S. presence ahead of a potential New York IPO.”
EG Group Agrees Sale of French Business to EG On The Move
In a significant transaction announced recently, EG Group has reached an agreement to sell its operating business in France to EG On The Move. This deal involves the transfer of around 260 convenience retail and fuel forecourt sites across the country, underscoring the ongoing restructuring at the Blackburn-headquartered global operator.
EG Group, co-owned by billionaire brothers Mohsin and Zuber Issa alongside private equity firm TDR Capital, has been actively streamlining its international footprint. The French divestment forms part of a broader program of asset sales aimed at reducing debt levels that have weighed on the balance sheet in recent years. Proceeds from this transaction will directly support debt repayment, allowing the company to sharpen its focus on higher-priority markets where it maintains robust operational scale and growth potential.
The buyer, EG On The Move, is the fast-growing forecourt and convenience business founded by Zuber Issa in 2023. Initially operating exclusively in the UK, the company has rapidly built a portfolio through strategic acquisitions, including select sites and franchises from EG Group itself in prior deals. This French acquisition represents EG On The Move’s debut expansion outside the United Kingdom, positioning it as an emerging international player in the sector.
Under the terms of the agreement, EG On The Move has secured a put option enabling it to acquire the French network. The deal remains subject to standard regulatory clearances in France, including consultations with relevant employee representative bodies as required by local law. Both parties anticipate closing the transaction in the second quarter of 2026, assuming approvals proceed smoothly.
This move highlights the interconnected yet distinct paths of the Issa brothers’ ventures. While Mohsin Issa continues to lead EG Group alongside TDR Capital, Zuber Issa has concentrated his efforts on building EG On The Move into a standalone entity with its own growth trajectory. The French sites are expected to benefit from EG On The Move’s operational expertise, particularly in convenience retail, foodservice offerings, and fuel sales. The buyer has expressed intentions to invest further in the acquired network, enhancing retail formats and diversifying the portfolio to meet evolving consumer demands in the French market.
For EG Group, the sale aligns with a series of recent divestments. The company has already completed the disposal of its Italian operations to a local consortium at an enterprise value of €425 million late last year, and it has offloaded other non-core assets such as the Cooplands bakery business in the UK. These transactions reflect a deliberate strategy to deleverage and concentrate resources on the United States, where EG Group operates a substantial network of convenience stores and fuel stations under various brands. The U.S. business has emerged as a cornerstone of the company’s value proposition, contributing significantly to overall performance amid challenging conditions in some European markets.
The French portfolio being sold includes a mix of forecourts offering fuel, grocery merchandise, and prepared food options—typical of EG Group’s integrated convenience model. While specific financial details of the deal were not disclosed, the transaction is viewed as supportive of EG Group’s ongoing balance sheet repair. Market observers note that such asset sales help position the company favorably for future capital market activities, including a widely anticipated initial public offering on the New York Stock Exchange that could value the business in the billions.
EG On The Move’s move into France signals confidence in the long-term prospects of the European forecourt sector despite competitive pressures from electric vehicle adoption, regulatory changes, and shifting consumer habits. The acquisition provides immediate scale in a major market, allowing the company to leverage cross-border synergies in branding, supply chain, and franchise partnerships.
This agreement underscores broader trends in the global convenience retail and fuel industry, where operators are reallocating capital toward regions with stronger growth dynamics while shedding underperforming or non-strategic assets. For stakeholders, the deal represents a pragmatic step forward in optimizing portfolios amid economic uncertainties and sector transformation.
Disclaimer: This article is for informational purposes only and does not constitute investment advice, financial recommendation, or an offer to buy or sell securities. Readers should conduct their own research and consult qualified professionals before making any decisions.