Lancashire based EG Group, founded by billionaire brothers Mohsin and Zuber Issa, has sold the Astralian arm of it’s business for a staggering A$1.1 billion (or just over half a billion Great British Pounds).

EG Group, a leading international operator of convenience retail, foodservice and fuel stations, this week announced that it has entered into a definitive agreement to sell its Australian business to Ampol.

The transaction values the EG Australia business at an enterprise value of A$1.1 billion (subject to customary closing adjustments), comprising A$850 million of cash proceeds and A$250 million of Ampol stock.

This sale will mark the Group’s exit from the Australian market, with proceeds to be used to further reduce the Group’s debt.

EG Group state that the sale represents further progress, following the announcement of an agreement to sell EG Italy on August 11 2025, in the Group’s strategy to develop its core market operations, strengthen its balance sheet and reduce leverage.

The EG Group's Head Office in Blackburn | Google Maps

placeholder image — The EG Group's Head Office in Blackburn | Google Maps

Russ Colaco, CEO of EG Group, said: “This transaction is a significant milestone in our ongoing efforts to streamline EG Group’s global portfolio and sharpen our focus on the markets where we see the largest growth opportunities.

“I would like to sincerely thank the Australian leadership team and all our colleagues for their significant contributions to the business.

“We remain fully focused on executing our strategy and building a platform for further growth, with our world-class grocery & merchandise, foodservice and fuel retail proposition.”

The Australian transaction is subject to antitrust and other standard regulatory approvals, with completion expected by mid 2026.

BofA Securities acted as exclusive financial advisor and Gilbert + Tobin as legal advisor to EG Group on the transaction.

EG Group was founded by Blackburn brothers Mohsin and Zuber Issa in 2001 and is now a leading independent convenience retailer, which has established partnerships with global brands, and a focused portfolio of proprietary brands.

The youngest of the brothers, Zuber stepped down from his role as director in October 2024 and now runs EG On The Move.

A year later, the second brother, Mohsin also resigned as director: he however retains a substantial minority shareholding and remains on the board as a non-executive director.

The Group currently has operations in nine countries, with its single biggest market by revenue being the USA, and it employs about 38,000 colleagues working in more than 5,500 high-quality sites across its markets