Cornwall Garage Group, a portfolio of 17 petrol filling stations across the Midlands and South of England, has been acquired by fast-growing forecourt operator Ascona Group.
First established by John Murray in the 1960s, the group consists of 14 freehold and three leasehold sites. Sixteen sites trade under the Harvest Energy brand and nine have electric vehicle chargers installed in partnership with Instavolt.
Ascona Group has been rapidly expanding over the last 18 months, with this latest acquisition taking its forecourt estate to 37 sites.
Ascona Group managing director Darren Briggs said: “Following our significant growth over the past 18 months, we are delighted to announce our first major group acquisition of Cornwall Garage Group.
“We consider this group of 17 sites to be a good strategic fit for our ongoing acquisition strategy across the UK and furthermore catapults Ascona Group into the top 10 independent fuel retailers in the UK.”
Grant, Lance and Pamela Murray said: “The Murray family are pleased to announce the sale of the Cornwall Garage Group to Ascona Group. The company was set up over 50 years ago by John Murray. Following his death in post at 94 years old the family decided to sell the group in order to facilitate the development of other interests.
“We wish Ascona Group every success in the future and thank our loyal and hardworking staff for all their help in making the Cornwall Garage Group such a happy and successful family business. We’d also like to thank the Christie & Co team, particularly Mark Kaluza, Dave Morris and Steve Rodell, for all their hard work, persistence, dedication and advice throughout the process, from marketing through to completion.”
Mark Kaluza, director of Retail at Christie & Co, which brokered the deal, added: “We received significant interest in the group as a whole and over 100 offers for individual sites. We wish Darren and his team well with integrating 17 sites in to the expanding Ascona Group portfolio and are very pleased to have played a large part in their expansion plans. with this pivotal acquisition.”