Billionaire Issa brothers planning £8billion takeover of fast food chain Subway

Asda house owners, the Issa Brothers, are reportedly eyeing up a possible takeover of main quick meals chain Subway.

The brothers, Mohsin, 51, and Zuber Issa, 50, are understood to be plotting to amass the sandwich chain – which has 44,000 eating places globally – for £8billion.

One supply advised The Solar that the brothers’ firm, EG Group, imagine that Subway could be an “splendid match” for his or her empire.

A supply stated: “EG Group have felt for some time that Subway handled them the identical manner as different franchise companions and their huge progress hadn’t been appreciated.

“So what higher method to present who’s boss than proudly owning them.”

One other supply advised the paper: “It might make good sense.”

The Blackburn-based Issa brothers have already got just a few Subway shops in a few of its greater than 6,300 petrol stations throughout the globe.

This contains 340 stations within the UK.

Subway introduced earlier this 12 months that it was wanting into the potential of promoting the enterprise.

On the time, the corporate didn’t point out how lengthy the gross sales course of may take or whether or not there have been any events.

It additionally stated it couldn’t verify if a sale would truly happen.

The family-owned chain additionally stated that it might not be making any additional firms concerning the potential sale going ahead.

In accordance with the Wall Road Journal, which first reported the story, a sale of the Subway may worth it at greater than $10billion (£8.2bn), which is an identical determine to the Issa brother’s reported bid.

The Issa brothers have constructed fairly a reputation for themselves over the past 20 years after founding the corporate EG Group, initially known as Euro Garages, in 2001.

The brothers expanded in a short time after opening their first petrol station in Bury, Larger Manchester after teaming up with the personal fairness agency TDR capital.

The brothers have constructed a reputation for themselves within the retail and hospitality world having just lately bought well-known chains corresponding to Asda and the quick meals chain Leon.

Lately the group has tried to grab the espresso chain Caffe Nero and has reportedly explored a bid for Boots.

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