Billionaire business leader Zuber Issa is investing in Bolton’s famous oil brand Duckhams – and says he believes the business has “immense potential for growth”.
Mr Issa – CEO of petrol station and convenience store business EG On The Move – is one of the North West ’s richest men, with the Sunday Times Rich List earlier this month estimating that he and his brother Mohsin were together worth £6bn.
Now he has backed 126-year-old oils and lubricants brand Duckhams for an undisclosed amount, saying he wants to revitalise the brand and help to grow it around the world.
Duckhams was founded in 1899 by Alexander Duckham and became known worldwide for its lubricant formulations, especially in the worlds of motorsports and classic cars. It was owned by BP for decades before it was bought by forecourts entrepreneur Jabir Sheth in 2016 and relaunched the following year.
Zuber Issa and his brother founded Euro Garages – later the EG Group – with a single forecourt in Bury. They grew their business into a Ƶ market leader, but were thrust into the spoirlight in 2020 when they bought Asda for £6.8bn. Last year Zuber sold his 22.5% stake in Asda to focus on his forecourts business, EG On The Move.
Announcing Mr Issa’s investment today, Duckhams said: “With decades of entrepreneurial experience and a proven track record in scaling businesses, Zuber Issa aims to expand the brand’s footprint across new and existing markets and channels, leveraging cutting-edge research and development to meet the evolving demands of modern engines and industrial machinery.”
Mr Issa said: “Duckhams is a brand with an extraordinary legacy and immense potential for growth. I am confident the brand will resonate with customers both in the United Kingdom and globally given car manufacturers are producing more efficient vehicles that need premium grade oils and fuels.
“By investing in innovation, sustainability, and strategic market expansion, we can ensure Duckhams can establish itself to be a leader in the lubricant sector for years to come.”
Mike Bewsey, Global CEO at Duckhams, said: “Zuber’s equity investment signals strong confidence in the Duckhams brand, its leadership, and its long-term vision.
“Zuber is a very successful entrepreneur and has a proven track record and strategic insights that will be invaluable as we scale our business both in the Ƶ and globally. This partnership opens exciting new possibilities for Duckhams.”
In January, Mr Issa's EG On The Move completed the acquisition of almost 100 sites from service station operator Applegreens. The deal means the business will have 151 petrol forecourt stations and another 209 foodservice concessions.
Announcing the deal, Mr Issa said: "We look forward to integrating the Applegreen Ƶ business into EG On The Move. This acquisition is a natural fit, and enables EG On The Move to continue to redefine convenience retail and mobility for our customers, with a strong focus on quality, innovation, and sustainability.”
He added: “Customers and stakeholders can expect a seamless transition. Updates on site facilities, retail initiatives, and brand partnerships will be shared in the coming months. Our network is poised to deliver enhanced customer experiences that reflect the growing welfare and retail demands of those who travel for work, social reasons or live in the surrounding area.”
Last year EG On The Move also signed a deal with the Co-op group to see Co-op franchises opening at petrol stations across the country.
