EG Group is an independent forecourt and convenience retailer, with a network of over 4,000 sites across Europe and North America. The business partners with major fuel brands and well-known 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 a leading independent forecourt operator with an international footprint. 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 selective acquisitions in Europe and entering the US market through a combination of acquisitions and organic growth initiatives. Management has built value across acquired estates by applying a consistent operating model and further developing the convenience retail and foodservice offering.