ASIAN billionaire Zuber Issa has made a strategic investment in Duckhams, the British oil and lubricants brand founded 126 years ago.
The investment values the Bolton-based company at around £50 million, reports said.
Duckhams employs 100 people and operates from its headquarters in Greater Manchester.
Zuber, who co-led the £6.8 billion purchase of Asda in 2021, plans to expand Duckhams across new markets and channels while investing in research and development to meet demands from modern engines and industrial machinery.
He said, “Duckhams is a brand with an extraordinary legacy and immense growth potential. 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.”
Zuber sold his 22.5 per cent stake in Asda last year to focus on his petrol station business EG On The Move. He and his brother Mohsin built their forecourt empire from a single site in Bury and are estimated to be worth £6bn.
Mike Bewsey, global chief executive at Duckhams, said the latest investment showed confidence in the brand and its longterm 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 UK and globally,” Bewsey said. “This partnership opens exciting new possibilities for Duckhams.”
The investment comes as EG On The Move continues expanding its forecourt network. In January, the company completed the purchase of almost 100 sites from service station operator Applegreens, bringing its total to 151 petrol stations and 209 foodservice locations.
Alexander Duckham founded the oil company in 1899, and it became known for lubricant innovations including Europe’s first multigrade oil in 1951.
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