Member Article

Euro Garages acquire 45 ESSO petrol stations

Euro Garages has announced it will buy 45 petrol stations from ESSO for approximately £50m, to bring its total number of sites up to 120.

The Blackburn-based buyer will take on sites based in the North West, North East, Yorkshire and North Wales, while fuel will continue to be supplied by ESSO.

Shops located at the petrol stations will also continue to be branded as Spar convenience stores.

Euro Garages was set up in 2001 by brothers Mohsin and Zuber Issa, when they bought their first petrol station, and the business has now grown to be one of the largest independent operators in the UK.

Mohsin Issa, managing director, commented: “This is a transformational acquisition for our business, which accelerates our consolidation strategy in the UK and increases our presence in a number of important regions.

“It also fits perfectly with our retail proposition, which is based on partnering with quality brands to offer our customers the very best experience and value across our forecourts.”

His brother, Zuber, chief executive of the company, added: “This acquisition adds a collection of premium location sites to our portfolio, providing considerable opportunity for further development and value creation in the estate alongside our partnership brands.

“It also brings a team of skilled, customer-focussed employees who will be crucial to our continued commitment to service on the front line.”

Funding for the deal was provided through Lloyds Bank in the North West.

Paul Foster, deputy area director for the Lloyds in the North West, commented: “While many businesses in the sector are hunkering down in the face of challenging conditions, Euro Garages is a prime example of a business with the confidence to invest in order to drive its growth strategy.

“We’re keen to show our commitment to backing mid-market companies like Euro Garages, where our support and expertise can help support economic growth in the regions.”

This was posted in Bdaily's Members' News section by Miranda Dobson .