Convenience and forecourt operator Samy Group has secured £15m as part of a funding package from HSBC UK to support the expansion of its portfolio sites across the Midlands and North-East of England.
The funding will enable the group to grow from its current 64 sites to more than 100 locations by 2028. Samy Group currently has Londis, Morrisons and Budgens stores in its portfolio.
In addition to supporting acquisitions, the investment will be used to consolidate intercompany loans and refresh existing stores following a period of rapid expansion.
Samy Group owner Mohan Palanisamy explained that the investment will help provide sustainable growth for the business. “This is our first external investment, and while the business has been growing strongly, this funding will significantly accelerate our ability to scale sustainably. It will also allow us to enhance the efficiency of our existing operations through a programme of store upgrades. With the support of HSBC UK, we now have the capital to pursue larger acquisitions and strengthen our position as a major convenience store and PFS operator.”
Global relationship director at HSBC UK, Zareen Smith, added: “This funding represents a fantastic opportunity for Samy Group at a time when consumer shopping habits continue to evolve. We look forward to supporting the team as they pursue further acquisitions and build on their already impressive portfolio.”
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