Finance

Billionaire Issa brothers’ petrol stations giant swoops for 52 KFC sites

More than 50 KFC restaurants across the UK have been acquired by petrol station giant EG Group, which was founded by the billionaire Issa brothers who recently bought Asda.

The Blackburn-headquartered group, which is backed by TDR Capital, has snapped up the 52 sites from Amsric Group for an undisclosed sum.

The network, which stretches across the South, comprises more than 1,600 employees and a mix of drive-thru and traditional restaurant formats.

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As a result of the deal, the group now operates more than 1,700 foodservice concessions and operate over 220 KFC restaurants in Europe and the UK.

This transaction follows EG Group’s acquisition of the largest KFC franchise in the UK and Ireland from The Herbert Group in March 2020.

At the time, the acquisition comprised 146 KFC restaurants and one Pizza Hut Store, as well as a development pipeline and a small number of non-trading sites.

In a joint statement EG Group co-founders and co-CEOs Mohsin and Zuber Issa said: “Acquiring the Amsric portfolio further strengthens our customer proposition and is highly complementary to our existing operations, and our long-term growth plans for our foodservice business.

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“The KFC brand has continued to grow in recent years due to its focus on changing customer needs and brand positioning. Even during the pandemic, KFC moved quickly to assess and adapt in order to embrace the rapidly evolving environment.

“We have seen a marked upward trend in the performance of our existing KFC network and this has given us confidence to consider and invest in more assets.

“The network we have acquired is a strong portfolio of assets and we are looking forward to working with the Amsric management team and KFC to ensure a smooth transition for the teams and an effectively managed transfer of operations and assets.”

Ragin Patel, managing director of Amsric Group, added: “We are pleased to be selling our KFC business to EG Group.

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“As a family-managed business, we take a people-first approach and wanted to ensure our KFC network went to a new owner who is committed to investing in the network and allowing our employees to realise opportunities for professional growth.

“EG Group has an excellent track record of acquisitions and of managing leading consumer brands.

“Moreover, EG Group is recognised as an effective foodservice operator and already has an extensive KFC restaurant portfolio. They have a business model which is committed to investing and growing.

“Our first priority is to make sure our team members are well supported through the transition and ensure there is minimal disruption to our guests.”

Paula MacKenzie, general manager of KFC UK & Ireland, said: “Firstly, I would like to thank Ragin and the Patel family for all their hard work, and their longstanding support of our brand. EG Group’s commitment to investing not only in the existing restaurants, but also in growth through the development of new locations reinforces the strength of our brand, and of KFC as a world-class franchisor.

“We are confident that EG Group’s expertise, focus on their people and depth of connection to our brand will yield tremendous success and continued growth.”

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