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Ellesmere Port's Essar Adds Hundreds of New Forecourts in Huge Deal for Company
The deal doubles EET Retail’s network to 235 sites and moves the company toward a target of 800 forecourts by 2031, Reuters said.
- India's Essar Group acquired SGN Retail, expanding its fuel station network to 235 sites by combining the 118-site independent chain with Essar Energy Transition Retail's operations.
- Founded in 2016 by Graham Peacock and Susan Tobbell, SGN Retail grew into one of Britain's biggest independent petrol station chains before its integration into EET Retail.
- Sources value the deal between £400 million and £450 million, with EET Retail funding the acquisition through cash and a £250-million senior debt facility from banks including Royal Bank and SMBC Bank International.
- Arvan Ruia, chief executive of EET Retail, said the purchase "accelerates our plan to build a nationwide, vertically integrated platform of 800 sites, backed by direct refinery supply and delivering competitive prices at the pump for UK motorists."
- This expansion aims to capture around 9% of the United Kingdom market by 2031, as EET Retail plans to supply the growing network directly from its 200,000-barrel-per-day Stanlow refinery in Ellesmere Port, Cheshire.
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Total News Sources21
Leaning Left3Leaning Right2Center5Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 30%
C 50%
R 20%
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