EG Group - TDR Capital

EG Group is one of the global leaders in forecourt convenience retailing. It was formed in November 2016 when we merged European Forecourt Retail Group, which comprised over 1,100 retail sites in Benelux and France, with Euro Garages, a leading forecourt retail business in the UK.

Following the merger, we have made significant further acquisitions in France, Italy, The Netherlands, Australia and the US. Today, EG Group has over 5,500 sites across Europe, Australia and the US. Its fuel retail brands (Esso, BP, and Shell amongst others) are complemented by a leading non-fuel offering including brands such as Starbucks, Subway, Greggs, KFC, Burger King and Carrefour.

At a glance
Status: Partially Realised
Deal Type: Private Sale
Sector: Consumer Services
Initial Investment Date: August 2014
Website: www.eg.group

Transaction

We had been following the downstream fuel and convenience retail and highway service station space for some time. In 2013 we began to focus our work on EFR, an estate of 1,100 sites across Benelux and France.

Through a combination of our in-depth knowledge of the business and a strong track record of successfully investing in consumer-facing multi-site businesses, we were able to favourably position ourselves and completed our initial investment in EFR in August 2014.

Since TDR’s investment

In November 2016, EFR completed the transformational merger with Euro Garages (widely recognised as one of the best forecourt retail operators in Europe) to form EG Group
Since the merger, EG Group has been transformed into a leading global forecourt operator expanding its estate through acquisitions of forecourt site portfolios in Italy, Germany and the Netherlands, as well as entry into the US and Australian forecourt markets
Through a series of acquisitions, EG Group has built a strong presence in the attractive US market which now represents approximately half of EG Group’s earnings
EG’s management has been successful at building value across the acquired estates through applying its effective operating model and rolling-out a more developed convenience retail and food service offering
In October 2023, EG Group completed the sale of the majority of its UK business to ASDA, forming a leading grocery and convenience retail champion in the UK