Euro Garages set to trial Sainsbury’s stores
Euro Garages is set to trial introducing Sainsbury’s convenience stores to its motorway service stations as the Blackburn-headquartered company eyes further growth after recently securing a private equity investment that valued it at £1.3bn.
Euro Garages is set to trial introducing Sainsbury’s convenience stores to its motorway service stations as the Blackburn-headquartered company eyes further growth after recently securing a private equity investment that valued it at £1.3bn.
The forecourt operator and the big four supermarket chain initially intend to test out adding shops to six sites within the Euro Garages portfolio.
If successful, the move could help to diversify the offering at Euro Garages, whichsecured a minority investment from private equity firm TDR Capital in a deal that valued the forecourt operator at £1.3bn in October 2015. Chief executive Zuber Issa and managing director Mohsin Issa, who are both Insider 42 Under 42 alumni, remained majority shareholders following the transaction.
Euro Garages posted a total turnover of £815.6m in its most recent set of accounts, covering the year to 31 July 2015. This represented a 26 per cent rise on a year earlier.
Fuel sales contributed £674.3m in 2014/15 up from £540.2m in 2013/14, while shop and fast food sales generated £141.4m during the year up from £106.2m a year earlier.
Pre-tax profits increased by 127 per cent to £34.8m over the same period.
Euro Garages, which was founded in 2001, was established with a single petrol filling station in Bury and now has more than 330 sites across the UK.
Euro Garages declined to comment.
