Euro Garages merger creates €6bn European forecourt giant
Blackburn-based independent petrol forecourt and convenience retail operators Euro Garages and the European Forecourt Retail Group, based in Benelux and France, have joined forces to become a European leader in the petrol forecourt retail sector.The combination of both companies is perfectly placed for further growth because of increased international scale and complementary strengths. A new holding company named Intervias has been established, with a small corporate office in London. EFR and Euro Garages will continue to operate under their own names with their current CEOs and senior leadership teams.
The merged group will be a leading independent petrol forecourt retailer in Europe, with around 1,450 locations and 8,500 employees. Euro Garages and EFR together will be serving more than 6m customers a week through the management and operation of leading retail brands such as BP, ESSO, Shell, Texaco, Carrefour, Greggs, Louis Delhaize, Starbucks and Subway. The group has total pro forma gross annual revenues of around €6bn.Intervias will accelerate the transformation of the European petrol forecourt convenience sector, giving consumers access to an improved shopping experience with more leading global brands. EFR and Euro Garages will share best practices by leveraging EFR’s fuel purchasing and distribution expertise and international experience whilst benefiting from Euro Garages’ expertise in successfully managing brand partnerships and delivering retail excellence.
The newly established holding company named Intervias, governing both EFR and Euro Garages, will be chaired by Tony DeNunzio, a renowned business leader with international retail and consumer goods experience at Asda, Maxeda, Dixons Carphone and Pets at Home. As group chairman, Tony will drive growth, both organically and through further international acquisitions.Euro Garages co-founder and chief executive Mohsin Issa said: “We are very excited with this great combination of best-in-class operators, gaining a further commercial insight from the unique fuel expertise of EFR. Furthermore, I am very pleased with Tony DeNunzio’s appointment as our new group chairman. We are convinced he is the right person to lead the group; he brings a wealth of retail experience and expertise to drive our future growth plans.” Funds managed by TDR Capital LLP and the two brothers Mohsin & Zuber Issa, the founders of Euro Garages, will each own 50 per cent of Intervias. The transaction is subject to customary regulatory approvals and is expected to be completed no later than November 2016.