Bromley-headquarted forecourt trader, Park Garage Group, has purchased 27 petrol stations across the UK from the EG Group with the support of £75m of funding from HSBC UK.
The third generation family business is managed by brothers Balraj and Sunil Tandon, and the substantial acquisition increases the Park Garage Group’s sites from 49 to a total of 76, enabling the business to widen its customer base.
Sunil Tandon, Shareholder and Managing Director of Park Garage Group, said, “This deal is truly transformational for our business and signifies a huge step forward for the company. The acquisition underlines our commitment to growth and innovation, and will enable our family to further build our industry footprint.”
Nick Harper, Relationship Director at HSBC UK added, “We’re delighted to have supported Park Garage Group in its purchase of 27 petrol stations, enabling the business to grow substantially. The company has banked with HSBC UK since 1998, and it has since grown into one of the largest independent family-owned forecourt traders in the UK.”