Fri, 03 Nov 2023 | COMMERCIAL PROPERTY
South Wales-based retailer VST Group has acquired a service station in Yorkshire, representing the company’s eighth freehold service station acquisition since securing funding from HSBC UK. VST Group, which was founded in 2017, secured a seven-figure funding package from HSBC UK.
The company used this funding to acquire seven strategically located service stations in Wales, with the latest acquisition representing its first foray into England. The Yorkshire site is scheduled to be unveiled in January 2024.
The acquisition further expands VST Group’s workforce and the group is anticipating more acquisitive growth with HSBC’s backing, with the possibility of acquiring a further 15 additional fuel stations across the UK over the next three to five years.
VST Group founder and Director Vijay Jaganathan commented: "We have quickly expanded our business across Wales since we first started working with HSBC UK in 2017. The purchase of the new site in Yorkshire marks a major milestone in our growth story and underlines our ambitions to expand across the UK.”
"We would not be where we are today without the support of HSBC UK, and we will continue to serve the local community by creating new jobs and providing local convenience stores and fuel stations."
Zena Perry-Hartle, area director for Wales & The Borders at HSBC UK, added: "This funding will support our client's expansion into England and the hiring of three more employees. VST’s growth mirrors people’s desire to shop locally and support local businesses. We are delighted that the business will now be able to provide excellent services to Yorkshire customers too."
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