Essar Energy Transition Retail acquires SGN Retail
The acquisition adds 118 forecourts to EET Retail's network, creating a 235-site platform and accelerating the company's plan to build an integrated refinery-to-retail operation across the UK.
Essar Energy Transition Retail (EET Retail) has agreed to acquire UK forecourt operator SGN Retail, expanding its network to 235 service stations and strengthening its position in the country's fuel retail market.
The transaction adds 118 SGN Retail locations to EET Retail's existing estate of 117 sites, creating a nationwide network with annual fuel volumes exceeding 650 million liters. According to the company, the enlarged platform will immediately become the UK's second-largest forecourt operator integrated directly with fuel production.
EET Retail is part of Essar Energy Transition Fuels, which operates the Stanlow refinery in northwest England. The company said the acquisition supports its strategy of reconnecting fuel production and retailing, enabling fuel refined at Stanlow to be supplied directly to company-operated forecourts.
“Building a scaled, vertically integrated retail forecourt platform is a critical pillar of our long-term UK strategy,” said Arvan Ruia, CEO of EET Retail. “This acquisition 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.”
The company aims to expand its network to 800 sites by 2031, representing an estimated 9% share of the UK forecourt market. Beyond fuel retailing, EET Retail plans to grow its convenience and mobility offer, including foodservice, convenience retail, vehicle valeting and EV charging services.
The acquisition will be financed through a combination of cash and a new £250 million senior debt facility backed by an international banking consortium.
The deal marks another step in Essar Energy Transition's effort to build a fully integrated refinery-to-forecourt business in the UK, as it seeks to expand its presence in both fuel retail and convenience services while strengthening the role of domestic fuel production within the supply chain.
