Thursday, April 22, 2021

Forecourt operator acquires Lincolnshire sites

Ascona Group, the forecourt operator, has acquired three service stations across Lincolnshire and one in Sunderland, taking its total portfolio to 55 sites across the UK.

Joining the group are the Jet-branded Wragby Road Service Station in central Lincoln, Luxmore West and Luxmore East Service Stations in North Lincolnshire, and Foxcover Service Station in Sunderland.

In keeping with the group’s strategy to develop the next evolution of retail roadside destinations, all four stations will include a Nisa-branded shop and offer the ‘Smokin Bean’ coffee brand. Ascona has also signed a new five-year agreement with Jet to supply the sites.

With these recent acquisitions, Ascona is on target to reach its ambition of growing to 60 sites by the end of April, and 300 sites in the next five years. The group previously secured backing from Crestline Europe and Nash Business Capital to more than double its portfolio to 120 sites in 2021.

Ascona was founded in 2011 by CEO Darren Briggs, a former strategy executive for Total UK Ltd, and embarked on its current growth strategy in 2017. Since then, the business has gone from two to 55 sites across the UK and now serves roughly 150,000 customers a week.

Ascona CEO, Darren Briggs, said: “We are delighted to add these forecourts to our growing portfolio, and are actively seeking to acquire more sites across the North of England to firmly establish an Ascona presence in the region. We look forward to serving the local communities of Lincolnshire and Sunderland with our combined fuel and retail offering.

“With 55 sites so far, we are on track to achieving our ambitious goal to be one of the top three independent fuel retailers in the UK market. Our rapid expansion is a testament to our hardworking team, and demonstrates the sizeable opportunity for both organic and acquisitive growth in the market.”

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