TDR's Euro Garages bolts on EFR

A new London-based holding company, Intervias, was established as part of the deal. It is 50% owned by TDR funds and 50% by Euro Garages founders Mohsin Issa and Zuber Issa.

The deal forms the first stage of an acquisitive international growth strategy for Euro Garages since TDR's initial investment last year.

As part of the deal, former Asda CEO Tony DeNunzio will take on the role of chairperson in the new group.

Previous funding
TDR acquired a minority stake in Euro Garages in October 2015, in a deal valuing the company at £1.3bn.

Company
Founded in 2007, Breda-headquartered EFR is a petrol station forecourt retail operator. The business operates throughout the Benelux region and has an additional subsidiary in France.

The merged group will have a headcount of 8,500 across 1,450 locations and a combined turnover of €6bn. It will be responsible for the operation of outlets under the BP, Esso, Shell, Texaco, Carrefour, Greggs, Starbucks and Subway brands.

People
Euro Garages – Mohsin Issa (co-founder, chief executive).
European Forecourt Retail Group – Rika Coppens (CEO).

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• Topics
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