Applegreen in talks to sell UK sites
Applegreen is said to be in negotiations to sell 98 of its UK filling stations – according to a report in Forecourt Trader. The negotiations do not include its trunk road, motorway or sites operated by Welcome Break.
The move dovetails with the company’s strategy to develop less, but larger locations – with an increased focus on the food-to-go offering and EV charging.
The talks are currently still in early stages and are unlikely to be concluded until later this year.
IFCR has asked if the move will include its five sites in Northern Ireland – but no response has been received as yet from the company.
Earlier this year – on 9th March – the court hearing to allow for a change of ownership, enabled the original owners Bob Etchingham and Joe Barratt, along with a consortium including B&J Holdings, and Blackstone Infrastructure, to revert the company to private ownership, with Etchingham and Barratt as CEO and COO respectively.
The deal was approved by shareholders on February 17, but required the sanction of the High Court in Dublin, where the company is based.
In February of this year, Applegreen agreed a lease on 27 service area sites on the New York State Thruway in the US. The Empire State Thruway Partners (ESTP) consortium agreed the conditional lease with New York State Thruway Authority in September 2020, Applegreen was a minority partner in ESTP, as previously reported by IFCR, further highlighting the company’s ambitious expansion plans.
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