Media reports suggest that the British Muslim billionaire Issa brothers are exploring the possibility of acquiring the sandwich chain Subway for £8 billion ($9.87 billion).
Mohsin and Zuber, who began their business venture with a single petrol station in Greater Manchester in 2001, are reportedly poised to acquire the chain, which had over 37,000 locations across 100+ nations in 2021.
Mohsin and Zuber jointly own Euro Garages, in partnership with TDR Capital, which runs more than 6,600 petrol stations worldwide and already operates Subway franchises at 340 of its locations. “EG Group has been feeling undervalued by Subway as one of their many franchise partners, despite its remarkable expansion,” a source told British newspaper The Sun. “So what better way to demonstrate who’s in control than by owning them?” Another source claimed that acquiring Subway would be a “smart move” for the brothers. In addition to being Europe’s largest KFC franchise owner, the EG Group also acquired the supermarket chain Asda for £6.8 billion in 2021.