GNE Group has announced that it is keen to buy more forecourts in the UK. The company, which recently announced the completion of the sale of Petrol Express Limited for £51.66m, said it wanted to buy petrol retailing sites and/or make
investments in companies whose sites displayed one or more of the following characteristics:
* “The potential to improve historical trading performance through application of the Board’s experience
* Good site location which offers good potential trading and or an alternative use for the site in the event that the Company decides to redevelop the site, and
* Potential for alternative use and/or redevelopment, subject to planning permission to allow the Company to redevelop the site, possibly in conjunction with a joint venture partner”.
In addition, the company said that the board would consider “other related businesses where the Board has suitable experience, for example, expansion into the oil distribution market”, along with “opportunities that will enhance the retained businesses held within the Group”.
GNE Group announced the completion of the disposal of its fuel retail business, Petro Express, last month.
A spokeswoman for the group added: “Using money from the deal, the board of GNE is now looking to repeat its achievements by new acquisitions, possibly in conjunction with a joint venture partner.”