Major fast food chain set to be taken over by billionaire brothers who own Asda
THE self-made billionaire Issa brothers are plotting an £8billion takeover of global fast-food giant Subway, The Sun can reveal.
Blackburn-born Mohsin, 51, and Zuber, 50 — who own Asda — are understood to be eyeing up the 44,000-restaurant chain.
Their EG Group already has a Subway at some of its more than 6,300 petrol stations across the globe — including at the 340 filling stations in the UK.
It is thought the brothers believe US firm Subway would be an ideal fit for their growing empire.
A source said: “EG Group have felt for a while that Subway treated them the same way as other franchise partners and their massive growth hadn’t been appreciated.
“So what better way to show who’s boss than owning them.”
Another source said: “It would make good sense.”
The Issas, who started with one petrol station, expanded their business rapidly after teaming up with TDR capital, a private equity firm.
They launched a petrol station acquisition spree before the £6.8billion takeover of Asda in 2021.
Since then EG Group has bought food chain Leon, tried to seize Caffe Nero and has explored a bid for Boots.
The brothers own a stake in upmarket sportswear brand Castore.
EG Group owns KFC’s biggest franchise and has relations with Krispy Kreme, Cinnabon, Greggs and Starbucks as well as Subway.
It declined to comment on any Subway talks.