More than 300 Asda convenience stores may soon be seen across EG Group’s petrol forecourt empire, a report claimed on Sunday (29), saying Mohsin and Zuber Issa are pressing ahead with the plan of opening “Asda on the Move” stores across the UK.
As per a Sunday Times report, Mohsin and Zuber Issa are planning to roll out “Asda on the Move” stores to more than 300 UK forecourts, following a successful trial of five of these sites. If the plan goes ahead, this will be the Issa brothers’ first move as Asda’s new owners.
The billionaires, who are behind forecourt giant EG Group, and private equity backer TDR Capital, completed an acquisition of the Leeds-based Big four grocer earlier this year.
Asda spokesperson has refused to comment on the matter.
“Given this is a speculative piece with little detail behind it we are not providing any comment,” Asda spokesperson said.
The news comes a week after it emerged that Lord Stuart Rose is reportedly set to become the next chair at Asda as the search for a chief executive for the Big 4 retailer continues.
Several reports suggest that Rose, who was Marks & Spencer’s boss between 2004 and 2011, is being considered for the chair role. Rose is already the chair at EG Group, the Issa brothers’ petrol forecourt empire.
Speculation is also rife that retail veteran Ian McLeod could be returning to Asda as its new chief executive under new owners, the Issa brothers and TDR Capital.
A former boss of Halfords and Australian grocery giant Coles, McLeod had previously been part of the team that saw Asda avoid bankruptcy.
M&S Food chief Stuart Machin and Morrisons’ chief operating officer Trevor Strain also have been linked with taking the chief executive role as Asda boss Roger Burnley reportedly left the supermarket giant following the completion of its £6.8 billion takeover.
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