A new holding company – Intervias has been established for the merged group with a small corporate office in London. The merged group will be a leading independent petrol forecourt retailer in Europe, with around 1,450 locations and 8,500 employees. Euro Garages and EFR together will be serving more than 6 million customers a week through the management and operation of leading retail brands such as BP, ESSO, Shell, Texaco, Carrefour, Greggs, Louis Delhaize, Starbucks and Subway. The group has total pro forma gross annual revenues of around EUR 6 billion.
Intervias, which will be chaired by Tony DeNunzio as group chairman, will accelerate the transformation of the European petrol forecourt convenience sector, giving consumers access to an improved shopping experience with more leading global brands. EFR and Euro Garages will share best practices by leveraging EFR’s fuel purchasing and distribution expertise and international experience whilst benefiting from Euro Garages’ expertise in successfully managing brand partnerships and delivering retail excellence.
“I am excited to lead Intervias, driving growth, both organically and through further international acquisitions,” said Tony.
“Intervias will make significant investments in its people, operations, systems and locations to create the petrol forecourt retail company of the future. EFR and Euro Garages are both companies with an exceptional performance record and we will play a pivotal role in the further consolidation of the petrol forecourt retail sector.”
Euro Garages co-founder and chief executive Mohsin Issa added: “I am very pleased with Tony DeNunzio’s appointment. We are convinced he is the right person to lead the group; he brings a wealth of retail experience and expertise to drive our future growth plans.”
Funds managed by TDR Capital LLP and the two brothers Mohsin & Zuber Issa, the founders of Euro Garages, will each own 50% of Intervias. The transaction is subject to customary regulatory approvals and is expected to be completed no later than November 2016.