Mohsin and Zuber Issa, billionaire brothers from Blackburn who own retail giant Asda, have purchased the fast-food chain, Leon.
The EG Group, the brothers' petrol forecourt business, has secured over 70 restaurants across the UK and Europe.
The contract, worth £100 million, according to the Financial Times, is part of EG Group's "massive growth in its non-fuel and foodservice operations," according to a statement released on Sunday.
John Vincent, the co-founder of Leon in 2004, mentioned a "tell day," but said he has gotten to know the Issa brothers over the last few years.
He described them as "enthusiastic Leon customers" who "go out of their way to eat here whenever they visit London."
“They are decent, hardworking businesspeople who are dedicated to upholding and reinforcing the values and culture that we have developed at Leon, a company that bears my father's name above the door.”
“We have worked hard, done some good things, made a healthy amount of mistakes, and created a company that a lot of people claim they love,” he continued.
Mr. Vincent, along with Henry Dimbleby and chef Allegra McEvedy, created the business with the aim of providing healthy fast food.
He believes the brand will “flourish and have even greater appeal” under new ownership, especially outside of London.
“Leon is a great brand that we have long admired,” the Issa brothers said in a joint statement.
“As proven foodservice retail entrepreneurs ourselves, we have a great deal of respect for the company that John and the Leon team have created over the years, and we strongly believe that their culture and values are very similar to ours.”
From 2022 onwards, EG Group expects to open about 20 Leon locations per year.
In the UK and Ireland, the company currently has over 700 restaurants, including Starbucks, KFC, Burger King, Greggs, and Subway.
It comes after the Issa brothers completed their £6.8 billion takeovers of Asda in February, though UK antitrust regulators are yet to approve the transaction.