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Murco buys Petrol Express
Murco Petroleum has confirmed the £51.66 million acquisition of Petrol Express Limited from its parent company GNE Group plc.
Earlier this year GNE Group reported a full-year profits jump by 93% to just over £1 million after margins in both shops and fuel improved. GNE chairman David Port, said margins had also increased
due to improvements in quality at its sites.
Commenting on the acquisition Murco’s marketing director, Jeremy Clarke, said: “This is a major acquisition for us, coming only weeks after our purchase of seven stations in Scotland.
“The 63 Petrol Express stations situated throughout England and Wales are a great fit with our existing station network and, at the same time, they offer a combined forecourt, valeting and shop strategy in line with the highly successful approach that we initially developed many years ago but then refined and improved three years ago on our Fuelforce acquisitions.
“The Petrol Express sites are currently branded and supplied by Texaco, BP and Esso and this will continue for the immediate future.”
Following these two acquisitions, Murco has increased its company owned station network by over 40% to 230 sites throughout England, Scotland and Wales.
Clarke concluded: “Our Milford Haven Refinery acquisition in 2007 has provided us with a great platform for us to develop and action our retail plans and without question, the next 18 months is going to be an exciting time for Murco.”