Mon, 14 Sep 2026 | BUSINESS SALE
The retail division of Essar Energy Transition Fuels has agreed to acquire UK-wide independent forecourt operator SGN Retail, in a deal funded through a combination of cash and a new £250 million senior debt facility.
The deal sees 118 high-quality forecourt locations join EET Retail’s portfolio, which, combined with the business’ growing estate of 117 existing sites, establishes a scaled, nationwide platform of 235 fuel forecourts, with an annual throughput exceeding 650 million litres.
In the UK, Essar Energy Transition’s model integrates fuel manufacturing with consumer fuel sales. The acquisition of SGN Retail creates the UK’s second largest forecourt network backwardly integrated with fuel production.
The deal significantly accelerates EET Retail’s long-term roadmap and strategic objective to scale its footprint in order to supply domestic fuel directly to 800 forecourts by 2031.
According to the company, rerouting fuel refined at its Stanlow facility directly to EET Retail forecourts will boost domestic supply security, enabling UK refined fuel to be distributed to domestic consumers more efficiently.
Arvan Ruia, Chief Executive of EET Retail, commented: "Building a scaled, vertically integrated retail forecourt platform is a critical pillar of our long-term UK strategy. SGN Retail is one of the highest-quality forecourt networks in the UK well ahead of the market.”
"This acquisition accelerates our plan to build a nationwide, vertically integrated platform of 800 sites, backed by direct refinery supply and delivering competitive prices at the pump for UK motorists."
Viral Gathani, Head of Strategic Transactions at Essar Energy Transition, said: "This is a unique, best-in-class opportunity and advances a core part of our M&A strategy. The transaction is backed by a top-tier group of banks spanning four continents, several supporting the UK forecourt sector for the first time, underscoring confidence in our backward-integrated growth model and in the UK fuels and convenience markets."
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