Essar Energy Transition Retail acquires UK forecourt operator SGN Retail
EET Retail said the acquisition will help accelerate its strategy of integrating fuel production with retail sales in the UK.
- Sep 14, 2026,
- Updated Sep 14, 2026 2:55 PM IST
Essar Energy Transition Retail (EET Retail), the retail division of Essar Energy Transition Fuels, has agreed to acquire 100% of UK independent forecourt operator SGN Retail, adding 118 sites to its network.
The acquisition will take EET Retail’s forecourt portfolio to 235 locations, combining the newly acquired sites with its existing 117. The enlarged network will have an annual fuel throughput of more than 650 million litres.
EET Retail said the acquisition will help accelerate its strategy of integrating fuel production with retail sales in the UK. The company aims to build a nationwide network of 800 forecourts by 2031, supplying domestic fuel directly to around 9% of the UK market.
The transaction will establish what EET Retail described as the second-largest UK forecourt network that is backwardly integrated with fuel production.
The company said the UK fuel market has become fragmented over the past two decades as oil majors reduced domestic refinery investment, resulting in greater dependence on imports and complex domestic supply chains.
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EET Retail said fuel refined at Stanlow can be routed directly to its forecourts, strengthening domestic supply security and improving distribution to UK consumers.
The company also expects the integration of fuel production and retail sales to eliminate cost inefficiencies for motorists at the pump.
Arvan Ruia, CEO of EET Retail, said the acquisition accelerates the company’s plan to build an 800-site nationwide platform backed by direct refinery supply.
The transaction will be financed through a combination of cash and a new £250 million senior debt facility.
The facility has been arranged by First Abu Dhabi Bank, Macquarie Bank, Mizrahi Tefahot Bank, Natixis, OakNorth Bank, Royal Bank of Canada, SMBC Bank International and Sound Point Capital Management.
EET Fuels and EET Retail were advised by RBC Capital Markets, Herbert Smith Freehills Kramer and Weightmans.
Essar Energy Transition Retail (EET Retail), the retail division of Essar Energy Transition Fuels, has agreed to acquire 100% of UK independent forecourt operator SGN Retail, adding 118 sites to its network.
The acquisition will take EET Retail’s forecourt portfolio to 235 locations, combining the newly acquired sites with its existing 117. The enlarged network will have an annual fuel throughput of more than 650 million litres.
EET Retail said the acquisition will help accelerate its strategy of integrating fuel production with retail sales in the UK. The company aims to build a nationwide network of 800 forecourts by 2031, supplying domestic fuel directly to around 9% of the UK market.
The transaction will establish what EET Retail described as the second-largest UK forecourt network that is backwardly integrated with fuel production.
The company said the UK fuel market has become fragmented over the past two decades as oil majors reduced domestic refinery investment, resulting in greater dependence on imports and complex domestic supply chains.
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EET Retail said fuel refined at Stanlow can be routed directly to its forecourts, strengthening domestic supply security and improving distribution to UK consumers.
The company also expects the integration of fuel production and retail sales to eliminate cost inefficiencies for motorists at the pump.
Arvan Ruia, CEO of EET Retail, said the acquisition accelerates the company’s plan to build an 800-site nationwide platform backed by direct refinery supply.
The transaction will be financed through a combination of cash and a new £250 million senior debt facility.
The facility has been arranged by First Abu Dhabi Bank, Macquarie Bank, Mizrahi Tefahot Bank, Natixis, OakNorth Bank, Royal Bank of Canada, SMBC Bank International and Sound Point Capital Management.
EET Fuels and EET Retail were advised by RBC Capital Markets, Herbert Smith Freehills Kramer and Weightmans.