Applegreen acquires UK sites in £21M deal
Applegreen’s addiction to acquisitions continues unabated as the forecourt retail company announced it has bought seven sites from a high-profile network in England.
The Irish forecourt brand said the sites were acquired from the Carsley Group. It consists of six service areas and one petrol filling station. The service area sites are predominantly located on the major arterial route of the A1 motorway.
The Carsley group is well-known for its daring forecourt designs and hyper-modern sites.
Applegreen said the deal was worth £21 million, and will be funded from existing company resources.
The transaction is expected to complete around September this year. The deal comes within weeks of Applegreen acquiring 42 sites in South Carolina, USA.
“This transaction will accelerate our strategy to establish a major service area presence in the UK market, complementing our strong position in Ireland and growing footprint in the United States,” said Applegreen’s chief executive, Bob Etchingham.
“The service area sites we are acquiring are well located on very busy roads with a number situated on the A1 which is a major arterial route.
“The assets being acquired provide a set of large and strategically important sites that can accelerate Applegreen’s growth in this key marketplace.
“This acquisition demonstrates our commitment to enhancing our existing estate in the UK and leveraging our expertise in operating high quality service areas offerings with a strong food-to-go focus for the benefit of our customers.”