HARVEST ENERGY ACQUIRES RETAIL FUELS LIMITED
Harvest Energy, the retail division of the Prax Group has acquired Retail Fuels Limited, which owns and operates nine retail forecourts in the UK
Harvest Energy, a leading independent forecourt retailer and part of the Prax Group, has successfully acquired Retail Fuels Limited which owns and operates nine forecourts in the UK. The acquisition was completed on Friday 15th December and reflects the Group’s strategic objective to expand its retail footprint and brand presence across the UK marketplace.
Currently operating under the BP brand, the nine retail forecourts are principally located in the North West region of the UK, with six in Merseyside, two in Greater Manchester and one in the Midlands. Each site has a quality property offering, which following redevelopment, will deliver incremental shop and forecourt revenues.
Sanjeev Kumar,Co-Founder and Chief Executive Officer of the Prax Group, said: “UK forecourts have become convenience destinations in many different respects. Whether it is shopping on the way home in the evening, picking up a quality coffee or snack on the way into work, or even dropping off or collecting parcels, changes in consumer behaviour have presented strong opportunities for companies, who are prepared to invest in their forecourt stores and food offerings.
This acquisition demonstrates our commitment to enhancing our existing estate in the UK and leveraging our expertise in operating high-quality service area offerings with a strong food-to-go focus, which will help attract forecourt footfall.The team will enhance the customer experience by raising standards in-store and on the forecourt services.
I would like to take this opportunity to convey our thanks and appreciation to all colleagues who supported the successful completion of this transaction, as well as extending a very warm welcome to our new forecourt teams. We look forward to working together to become one of the UK forecourt sector’s most significant operators,” he concluded.