EG Group is one of the world’s largest independent forecourt and convenience retailers, with a network of over 4,000 sites across Europe and North America. The business partners with major fuel brands and leading food-to-go operators such as Starbucks, KFC and Subway.
Initial investment
2014
Sector
Consumer Services
Initial transaction size
€650m
We had been following the downstream fuel and convenience sector for some time and saw a compelling opportunity to build a scaled and diversified forecourt convenience platform in a market undergoing structural change as oil majors sought to divest non-core downstream assets.
EFR’s strong asset base and resilient earnings profile provided an attractive foundation from which to create one of the largest independent forecourt operators globally. There was clear scope to enhance returns through the development of a branded convenience and food-to-go proposition, applying retail best-practice and establishing partnerships with leading brands.
Following our investment, EFR was merged with Euro Garages to create a scaled platform. The merger enabled the business to increase its retail activities by applying Euro Garages’ best-practice retail operations and proven brand partnerships with leading food-to-go operators.
Since the merger, EG Group has been transformed into a leading international forecourt operator, expanding its estate through targeted acquisitions in Europe and entering the US market through acquisitions. Management has built value across acquired estates by applying a consistent operating model and further developing the convenience retail and foodservice offering.