Tue, 09 Aug 2022 | COMMERCIAL PROPERTY
Forecourt operator Ascona has continued its rapid acquisitive growth with deals for two service stations in Wales. The Pembrokeshire-based firm has taken its portfolio to 62 sites with the acquisitions of the BP-branded Brecon Road Service Station, Abergavenny and Gulf-branded Dryslwyn Service Station in Llwyncelyn, Aberaeron.
Ascona is aiming to use its acquisitive growth strategy to become one of the UK’s top three independent fuel retailers, with the latest deals meaning that the firm remains on target to hit its ambition of having 300 sites by 2026.
The Welsh acquisitions follow the company’s decision to expand its operations in Scotland. Last month, it acquired the lease on the Springfield Service Station, Aberdeen, meaning that the group now has operations across Wales, England and Scotland.
Post-acquisition, Ascona plans to fit the garages in Monmouthshire and Ceredigion with new Starbucks and Nisa facilities next month and is planning further major improvements to the sites over the coming three years.
Mark Franks, Ascona Property Director (South), commented: "We are delighted to add these quality forecourts to our expanding portfolio as we continue to execute on our ambitious growth strategy. We look forward to serving the local communities in Abergavenny and Llwyncelyn with our combined fuel and retail offering.”
"With 62 sites and counting, we are on track to achieving our ambitious goal to be one of the top three independent fuel retailers in the UK market. Our continued expansion is a testament to our hardworking team and demonstrates the sizeable opportunity for both organic and acquisitive growth in the market."
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