Essar Energy Transition Retail acquires SGN Retail, creating 235-site network
- Acquisition adds 118 forecourts, taking the combined estate to 235 sites with annual throughput exceeding 650 million litres.
- EET Retail targets 800 forecourts (~9% UK market share) by 2031, all supplied from the Stanlow refinery.
- Deal creates the UK's second-largest backward-integrated forecourt operator, reintegrating refinery-to-pump supply.
- Transaction funded with cash plus a new £250m senior debt facility arranged by a bank group including First Abu Dhabi Bank, Macquarie, Natixis, RBC and others.
Deal overview
EET Retail will acquire 100% of SGN Retail, adding 118 forecourts to its existing 117 to form a 235-site network with annual throughput exceeding 650 million litres. The combined group becomes the UK's second-largest backward-integrated forecourt operator.
Strategic rationale
The transaction reintegrates fuel manufacture and retail, routing Stanlow-refined fuel directly to forecourts to shorten supply chains, reduce import dependence and strengthen domestic energy security. EET Retail says the deal accelerates its roadmap to supply 800 forecourts by 2031 and notes Stanlow already produces around 20% of the UK’s road fuels.
Commercial and operational intent
EET intends to scale the Essar forecourt offer—convenience and food-to-go, valeting and EV charging—as it builds toward national coverage. Executives described the acquisition as a fast route to a vertically integrated, refinery-to-pump model that can eliminate cost inefficiencies and deliver competitive pump pricing for motorists.
Financing and advisers
The purchase will be funded with cash and a new £250m senior debt facility arranged by a banking group comprising First Abu Dhabi Bank, Macquarie Bank, Mizrahi Tefahot Bank, Natixis, OakNorth Bank, Royal Bank of Canada, SMBC Bank International and Sound Point Capital Management. RBC Capital Markets acted as financial adviser; Herbert Smith Freehills Kramer and Weightmans provided legal advice.
Source: Essar