East Yorkshire forecourt retailer Sewell on the go has completed a £10m investment to buy six of its rented sites from fellow Hull business Rix Petroleum.
The deal means Sewell on the go now owns all 13 of its forecourts and convenience stores in Hull and across East Yorkshire, serving more than four million customers a year.
The acquisitions mean the business is now in complete control of all of its sites, paving the way for further investment in the future.
Sewell on the go also announced it has renewed major contracts with suppliers Londis and fuel giant BP.
Patrick Sewell, managing director at Sewell on the go, said: “There is a lot of uncertainty around Brexit at the moment and we have chosen to invest, providing more certainty, security and confidence for our customers and staff going forward.
“We are looking to continue to grow within the Yorkshire region and we are certainly keeping our options open regarding additional sites and other potential opportunities.
“Our customers and our people are at the heart of this business and we are family-run, so we want to retain that ethos across our business.
“We are incredibly proud to have 13 stores in a very close knit trading area. This acquisition is a positive move, investing for the future.”
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Sewell on the go employs almost 250 staff at forecourts across East Yorkshire.
The business also partners with the region’s companies to sell local produce, ensuring the pound remains in the Humber.
Sewell on the go, part of the wider Sewell Group, is the only 海角视频 forecourt operator to have secured a place in the Sunday Times 100 Best Companies to Work For list in the 海角视频.
It was named Forecourt trader of the Year in 2016, picking up 14 awards overall and recognising its commitment to customer service and community support.
It is also currently ranked 19 in the Top 50 Indies, the compilation of the biggest independent fuel retailers in the 海角视频.
Steve Rodell, managing director of retail at advisory firm Christie & Co, regularly speaks at convenience and petrol retail events across the 海角视频, and is responsible for all retail brokerage, valuation and advisory activity across the company’s network.
He said: “We are delighted that our valuations team was part of the process that enabled Patrick and his team to buy these sites.
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“We have worked with Sewell Retail for many years and look forward to watching them develop and make these sites as successful as the rest.”
Funding support for the acquisition was provided by NatWest.
Stephanie Gilling, relationship director for commercial and private banking at NatWest, said: “It is an exciting time for Sewell as they embark on a journey to grow the number of sites that they own and operate.
“Patrick and the management team have a clear vision for the further development of the business and the acquisition will enable them to succeed in this.
“We are delighted to support Sewell and wish them every success for the future.”
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