India’s Essar Group has agreed to acquire SGN Retail, a UK-based petrol station network, in a deal valued at approximately £400 million. The acquisition, announced in mid-September 2026, is expected to nearly double Essar Energy Transition’s (EET Retail) existing forecourt presence in the United Kingdom from 117 to 235 sites. The combined network will operate under multiple fuel brands including Texaco, BP, Jet, Esso, Essar, and Shell, with convenience stores branded Co-Op, Best-One, Costcutter, and Nisa.

SGN Retail was founded by Essex entrepreneurs Susan Tobbell and Graham Peacock, who built the company to 118 sites following their earlier success with MRH (GB), a forecourt business they sold in 2016. That previous sale had secured their positions on The Sunday Times Rich List. The latest deal represents a significant milestone for Tobbell and Peacock, though both declined to comment on the transaction.

EET Retail, part of the Indian conglomerate Essar controlled by the Ruia family, plans to integrate SGN’s sites with supply from the Stanlow Refinery in Cheshire. This strategy aligns with Essar’s aim to create a vertically integrated platform of 800 forecourts by 2031, which would represent roughly 9 percent of the UK market. Currently, 70 of Essar’s 117 UK sites carry the Essar brand.

Essar has highlighted that the UK fuel market, which has seen increasing fragmentation over the past two decades, is characterized by a complex supply chain and a reliance on imports. Their approach is designed to streamline this system by adopting a direct refinery-to-pump supply model. According to Essar, shifting SGN Retail’s fuel supply to Stanlow as site contracts expire will eliminate intermediary wholesale fees, potentially enabling the company to offer more competitive pricing at the pump for consumers.

The SGN group reported revenues of £452 million and net profits of £18 million in the previous fiscal year. Operationally, while SGN owns the forecourt properties, day-to-day operations are subcontracted to retailers compensated through a commission model.

Arvan Ruia, CEO of EET Retail, emphasized that the acquisition is a key step in realizing the company’s vision for a nationwide presence supported by direct refinery supply, which he said is geared toward delivering value to UK motorists. The deal, though terms were not officially disclosed, is believed to be consistent with valuations of recent transactions in the sector.