Essar firm to acquire U.K. fuel retailer for £400 million
EET Retail Limited, a division of Essar Energy Transition, has agreed to acquire U.K.-based SGN Retail for approximately £400 million. The acquisition adds 118 fuel stations to Essar's portfolio as part of a broader strategy to build a vertically integrated network of 800 sites by 2031.
Why it matters
This consolidation in the U.K. fuel retail market reflects a strategic shift toward vertical integration to secure supply chains and improve competitive pricing.
EET Retail Limited, the retail division of Essar Energy Transition Fuels, the U.K. based company of the Essar Group, has announced an agreement to acquire 100% of SGN Retail, U.K.’ independent forecourt operator founded by Graham Peacock and Susan Tobbell for an estimated £400 million, according to sources. An Essar spokesperson declined to put the value.
Viral Gathani, Head of Strategic Transactions at Essar Energy Transition said, “This is a unique, best-in-class opportunity and advances a core part of our M&A strategy. “
“The transaction is backed by a top-tier group of banks spanning four continents, several supporting the U.K. forecourt sector for the first time, underscoring confidence in our backward-integrated growth model and in the U.K. fuels and convenience markets.”
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