The businesses and trading subsidiaries of Torex Retail have been acquired for £204.4m by Cerberus European Investments, through Torex Retail Holdings, an acquisition vehicle owned by Cerberus, following the process announced previously by Torex Retail plc.

The business includes all of the subsidiary companies globally, including the retail, hospitality and petrol and convenience divisions.

Petroleum & Convenience Divisional MD, Richard Quarmby said, “I am delighted that the financial future of Torex has been secured and that the new owner has a long-term commitment and operational expertise.

There has never been a doubt about the quality of Torex’ product base or our commitment to our strong customer relationships, and this change of ownership will enable us to genuinely integrate the businesses and build on our already leading market position."