Applegreen PLC Acquisition of UK forecourt operation (9573M)
August 03 2017 - 2:00AM
UK Regulatory
TIDMAPGN
RNS Number : 9573M
Applegreen PLC
03 August 2017
Applegreen plc
("Applegreen" or the "Company")
Acquisition of UK forecourt operation
Dublin, London, 3 August 2017: Applegreen is pleased to announce
that it has reached agreement to acquire a network of seven sites
from the Carsley Group, consisting of six service areas and one
petrol filling station in the UK (the "Business"). The service area
sites are predominantly located on the major arterial route of the
A1 (M).
Under the terms of the acquisition, Applegreen will acquire the
Business for a consideration of GBP21m which will be funded from
existing Company resources ("the Transaction"). The Transaction is
expected to complete in early Q4 2017.
Chief Executive Officer, Bob Etchingham said "This transaction
will accelerate our strategy to establish a major service area
presence in the UK market, complementing our strong position in
Ireland and growing footprint in the United States. The service
area sites we are acquiring are well located on very busy roads
with a number situated on the A1 which is a major arterial route.
The assets being acquired provide a set of large and strategically
important sites that can accelerate Applegreen's growth in this key
marketplace. This acquisition demonstrates our commitment to
enhancing our existing estate in the UK and leveraging our
expertise in operating high quality service areas offerings with a
strong food-to-go focus for the benefit of our customers."
For further enquiries, please contact:
Applegreen
Bob Etchingham, CEO / Niall Dolan, CFO +353 (0) 1 512 4800
Drury Porter Novelli (Irish media):
Paddy Hughes +353 (0) 1 260 5000
Goodbody
Joe Gill +353 (0) 1 667 0420
Siobhan Wall
Shore Capital
Stephane Auton +44 (0) 20 7408 4090
Patrick Castle
This information is provided by RNS
The company news service from the London Stock Exchange
END
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