Asda Group has completed the acquisition of EG Group’s UK business for an enterprise value of £2.07bn, in a move which will accelerate its growth in the convenience sector.
Asda said the deal is a key part of its strategic plan to create a value-led convenience offering by rolling out Asda Express across EG UK’s 356 predominantly freehold sites, which include convenience stores on petrol filling stations .
The acquisition of EG Group’s UK business will create a group with expected combined revenues of nearly £28bn, serving some 21m customers every week. Lord Stuart Rose, chairman of Asda, said: “As families continue to face into cost-of-living challenges, bringing Asda’s long-standing value in groceries and fuel to even more communities is a win for UK consumers.
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