EG Group is one of the global leaders in forecourt convenience retailing. It was formed in November 2016 when we merged European Forecourt Retail Group ("EFR"), which comprised over 1,100 retail sites in Benelux and France, with Euro Garages, a leading forecourt retail business in the UK.

Following the merger, we have made further acquisitions in France, Italy, The Netherlands, Australia and the US. Today, EG Group has over 5,900 sites across Europe and the US. Its fuel retail brands (Esso, BP and Shell) are complemented by a leading non-fuel offering including brands such as Starbucks, Subway, Greggs, KFC, Burger King and Carrefour.


We had been following the downstream fuel and convenience retail and highway service station space for some time. In 2013 we began to focus our work on EFR, an estate of 1,100 sites across Benelux and France.

Through a combination of our in-depth knowledge of the business, as well as expertise and a strong track record of successfully investing in consumer-facing multi-site businesses, we were able to favourably position ourselves and completed our initial investment in EFR in August 2014.

What we've done

EFR had significant transformation potential at acquisition resulting from its legacy oil-major ownership and a relatively under-developed retail offering. On acquiring the business, TDR led operating initiatives to drive the business forward, which resulted in a significant organic uplift in earnings. In November 2016, EFR completed the transformational merger with Euro Garages to form EG Group. Euro Garages was founded in 2001 from a single site in Bury, Greater Manchester and had grown to c. 340 sites in the UK. The business is widely recognised as one of the best forecourt retail operators in Europe, with a unique owner-managed business model and proprietary branded retail offer.

Since the merger, EG Group has been transformed into a leading global forecourt operator expanding its estate through acquisitions of forecourt site portfolios in Italy, Germany and the Netherlands, as well as entry into the US and Australian forecourt markets. Through a series of acquisitions, EG Group has built a strong presence in the attractive US market which now represents approximately half of EG Group’s earnings.

EG’s management have been particularly successful at building value across the acquired estates through the application of EG’s successful operating model, margin improvements and roll-out of convenience retail and food-to-go offering.