Photo credit: Cooplands Bakery/Facebook
EG Group grows F&B portfolio anew with Cooplands acquisition
The company continues its buying spree.
Petrol station forecourt operator EG Group, owned by the billionaire Issa brothers, continues its appetite for acquisitions by buying the Cooplands bakery group, the UK's second largest bakery chain.
Financial terms were not disclosed.
Founded in 1885, Cooplands employs more than 1,600 people across 180 cafes and stores predominantly in the north of England.
EG is looking to roll out the brand in petrol station forecourts and convenience stores across its portfolio.
Last May, the company bought the 70-strong LEON and recently acquired a further 52 KFC restaurants across the UK last month.
"Cooplands has a proven track record in the fresh bakery sector and vertical integration with EG Group will help to further drive our success in foodservice, where we continue to see strong growth opportunities in the UK and globally,” Zuber and Mohsin Issa said in a statement.
"The transaction will broaden the reach of Cooplands beyond the brand's northern heartlands and bring its much-loved food to more existing and new customers through EG Group's unparalleled network of roadside forecourts and retail convenience stores. We know that Cooplands' impressive bakery platform and our food service expertise will be a winning combination."
