Top 50 Indie Grove Retail has completed the acquisition of four filling stations, having bought the St Michaels portfolio in Scotland.
The sites comprise one Esso and three Shell forecourts located in Dumfries, Moffatt, St John’s Town of Dalry, and Wigtown, and the purchase means Grove now operates 33 locations.
The St Michaels firm employs 48 members of staff and was begun in 1998 by Jamie Wood, who has worked in the industry for 28 years.
The deal was made via a share purchase agreement, a method often used when buying entire businesses rather than aspects of them.
Brogan Grier, an agent with London-based property firm Graham + Sibbald, which brokered the deal, says that Wood “successfully invested, developed, and continued to grow the business”.
While the sale price remains confidential, Grier says it “reflects both Jamie’s capital investment into the sites over recent years, and the continuing interest in the Scottish market”.
