East Yorkshire forecourt retailer ‘Sewell on the go’ has spent £10m to buy six of its rented sites from Rix Petroleum, paving the way for continued growth across the region.
Sewell on the go now owns all 13 of its forecourts and convenience stores in Hull and the East Riding, serving more than four million customers every year.
The acquisitions mean the business is in complete control of all of its sites and is looking ahead to further investment in upgrades, extensions and improvements, and has also renewed contracts with suppliers Londis and fuel supplier BP.
Patrick Sewell, MD of 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.”
Sewell on the go has 245 staff, and the business partners with local companies wherever possible to sell local produce, ensuring the pound remains local.
Sewell on the go, part of the wider Sewell Group, is the only UK forecourt operator to have secured a place in the Sunday Times 100 Best Companies to Work For list in the UK.
The latest acquisitions were valued by Christie & Co, the leading specialist advisor for buying and selling businesses in a wide range of sectors, including convenience retail.
Steve Rodell, MD of Retail at Christie & Co, said: “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.