British Billionaires Issa brothers bought 71 outlets of fast food restaurants, Leon. The acquisition was carried out by Mohsin Issa and Zuber Issa through their company, EG Group. The deal is worth £ 100 million.
Dozens of restaurants bought by the Issa brothers from England to Europe. Includes 42 company-owned restaurants, as well as 29 franchises mostly found in airports and train stations in the UK and some European countries such as the Netherlands and Spain.
In a joint statement, Mohsin Issa and Zuber Issa said Leon is a restaurant they have admired for a long time. Meanwhile, Leon’s boss, John Vincent, who co-founded the restaurant in 2004, admitted he was sad because he had to release dozens of his restaurants.
“In some ways this is a sad day for me,” said Vincent, quoted by the BBC, Monday (19/4/2021).
“We have tried hard, done some good things, corrected mistakes and built a business that many people are kind enough to say they like,” he added.
EG Group Retains Its Workers
Apart from buying restaurant outlets, EG Group is also committed to maintaining Leon’s management team and staff. EG Group said the acquisition was carried out to expand its business in the food sector.
So far the EG Group operates more than 700 food outlets in the UK and Ireland, including branches and drive-thru for KFC, Starbucks and Greggs. The plan is for the EG Group to open around 20 new Leon outlets starting in 2022.
In addition, the Issa brothers’ company also plans to create Leon’s version of cookbooks, their own brand of groceries, and ready-to-eat foods sold in supermarkets.
Even though he is sad to have to let go of dozens of his restaurants, John Vincent has had the pleasure of getting to know Mohsin and Zuber over the past few years. According to him, the Issa brothers were good businessmen and hard workers.
“They have become enthusiastic customers of Leon, going out of their way to eat here every time they visit London. They are good and hardworking business people who are committed to maintaining and further strengthening the values and culture we have built,” he said.