Rontec agrees Total deal
Rontec Investments has agreed to buy Total’s retail and fuel distribution business in the UK, Channel Islands and Isle of…
Rontec Investments has agreed to buy Total’s retail and fuel distribution business in the UK, Channel Islands and Isle of Man following Total’s strategic review of its downstream assets.
Rontec is a consortium comprising Gerald Ronson’s Snax 24 with partners Investec and Grovepoint Capital.
The assets Rontec is buying represents eight percent of the UK retail fuel network and includes 810 service stations among other assets. Rontec simultaneously agreed to sell on 254 of the petrol retail sites it is acquiring to Shell.
Snax 24 will operate these sites on behalf of Shell under a management agreement once the deal is completed and will become the leading independent fuel retailing operator in the UK with 556 sites of which Rontec Investments will own 238.
Gerald Ronson, Snax 24 chairman and the original pioneer of the self-service petrol station in the UK, said: “This transaction marks Snax 24’s return to the fuel business in scale. We are delighted to be acquiring this already well-run business and believe that our independence will enable us to create further opportunities and drive innovation.”to top
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