Kuwait Petroleum has sold its UK retail service station network and direct fuel distribution operations, including 22 Budgens Express and nine Spar store franchises, following a company review.
The 75 service stations owned by KPGB have been acquired by Refined Holdings, a new joint venture between service station operator Malthurst, which already has 100 sites, and property and financial companies Winston Group and The William Pears Group. The deal also includes the supply of fuel to a further 200 independent but Q8-branded service stations. Thirty one Budgens and Spar franchises were included in the agreement, along with the Q8-branded stores located on all other forecourts.
A Refined Holdings spokesman said the purchase was part of continuing expansion: “We are confident that we can build on KPGB’s reputation.
“The combined networks make this new venture the largest independent fuel distributor and retailer in the country.”