$179m Raised By Euro Garages For Estate Expansion
Euro Garages, the private forecourt retail group and petrol station chain, has raised $179m for expansion. The money raised, which comes to around £110m, will enable Euro Garages to pick up larger parcels of properties. This will in turn reflect Euro Garages' focus on more profitable gas and oil production. Chairman of Euro Garages, Andy Bond, said that the company was targeting larger acquisitions to expand their estate. He stated that by this move, Euro Garages seeks to become the UK's leading forecourt retailer. The £110m funding will also help the company forge into other parts of Britain. Founded in 2001 by the Issa family, Euro Garages started out with just one small petrol station in Bury, Greater Manchester. But now the chain has extended all over UK and the latest funding project will enable EG to expand even more.