Top 50 Indie Euro Garages has appointed the former chairman and CEO of ASDA as executive chairman.
Andy Bond will make an undisclosed investment in the business alongside owners Mohsin and Zuber Issa, who founded the company in 2001 with a single petrol filling station in Bury, Lancashire.
Euro Garages is one the forecourt sector’s fastest-growing operators with a portfolio of 70 freehold-owned sites across the North of England and the Midlands. The business has increased sales 150% in the past five years from £117m to £285m and employs 1,000 people.
Owning and operating predominantly BP-branded filling stations, it has recently launched successful partnerships with several leading brands, bringing Spar convenience stores, Subway and Burger King eateries and Greggs bakery stores onto its estate.
Last year, it also signed a licensing deal with Starbucks to open up to 50 drive-thru outlets over the next five years the coffee company’s first rollout of the concept in the UK.
Its model has been to acquire run-down, under-performing filling stations for redevelopment, upgrading traditional ‘pump and kiosk’ operations to modern forecourts with food-to-go outlets and convenience stores.
Bond said: “I’ve been hugely impressed by the business and the team at Euro Garages. In just 10 years it has achieved significant scale in the sector and earned a well-deserved reputation for innovation, quality and customer service – values which are real success drivers in a retail business. I’m looking forward to helping the team continue its impressive growth.”
Mohsin Issa, director of Euro Garages, said: “Andy’s track record speaks for itself. As well as significant retail and management expertise, he brings enormous drive and energy to the team, which is critical in an ambitious, high-growth business like ours. I’m confident his appointment will help us accelerate the momentum we’ve created over the last 10 years and deliver our growth strategy.”