ASDA announces the acquisition of EG Group’s UK business

30 May 2023

ASDA is pleased to announce it has agreed to acquire EG Group’s UK and Ireland operations, comprising approximately 350 petrol filling stations and over 1,000 food-to-go locations. This is a highly strategic acquisition accelerating ASDA’s convenience retail strategy, building on the recent acquisition of 129 convenience sites from Co-op and the launch of ASDA’s proprietary convenience retail concepts “ASDA on the Move” and “ASDA Express”. The combined group is expected to generate combined revenue of nearly c.£30 billion and serve c.21 million customers weekly. In addition to being the third largest grocery retailer in the UK, ASDA will become the #3 convenience retailer in the UK, the second largest operator of petrol forecourts and the #8 operator of food-to-go outlets.

In a statement, Stuart Rose Chairman of ASDA said “ASDA’s acquisition of EG UK and Ireland will create a consumer champion like the UK has never seen. Throughout my career in retail – one thing has always been true, that meeting the evolving needs of customers is the route to growth.”

Gary Lindsay, Managing Partner of TDR added “The combination of Asda and EG UK and Ireland creates a convenience and food retailing champion, with nearly £30 billion in annual revenues. The two businesses are highly complementary, bringing together ASDA’s traditional focus on mid-to-large sized supermarkets and EG UK and Ireland’s on convenience retail, foodservice and fuel”.

The remaining EG Group business will comprise operations in the US, Continental Europe and Australia, whilst also retaining c.30 sites in the UK. The transaction is expected to close in Q4 2023.

Learn more about our investments in ASDA and EG Group.

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