Essar Energy Transition Fuels Acquires SGN Retail for £400 Million

EET Retail Limited, the retail arm of Essar Energy Transition Fuels, has agreed to acquire 100 percent of SGN Retail, a leading independent UK forecourt operator. The deal adds 118 retail sites to EET Retail's existing 117 locations, creating a 235-site network with an annual fuel throughput exceeding 650 million liters. This acquisition establishes the company as the second-largest backward-integrated forecourt operator in the United Kingdom.

While the company did not officially disclose the transaction value, sources estimate the deal is worth approximately £400 million, with some reports suggesting a range up to £450 million. The purchase is funded through cash and a £250 million senior debt facility arranged by a global consortium of banks, including First Abu Dhabi Bank and Royal Bank of Canada.

The move is part of a broader strategy to build a vertically integrated refinery-to-forecourt network of 800 stations by 2031, targeting a 9 percent market share. By supplying these stations directly from the Stanlow refinery in Cheshire, EET Retail aims to eliminate supply chain inefficiencies, reduce reliance on imports, and provide more competitive pricing for motorists.