ONE of Britain's leading independent forecourt retailers has bought a fellow competitor, doubling the number of filling stations under its ownership within a year.
HKS Holdings CEO Shane Thakrar said they acquired Brobot Group Ltd last week for an undisclosed sum in a “strategic” sale.
It comes after the HKS Holdings’ recent purchase of seven Shell sites, which means thecompany has acquired 30 filling stations in three months, taking the total number of sites to just under 60.
Following the addition of 23 sites from Brobot to the family-owned HKS group, the company’s business stretches from Yorkshire to Surrey.
"We've been looking to grow and Brobot is a businesses located in a good strategic area for us,” Thakrar told Eastern Eye.
“We look forward to improving the new locations and bringing them in line with our model,based around providing our customers with all of their needs in one location."
Thakrar confirmed all 280 workers at Brobot will be kept on and HKS plans to create more jobs in future.
“We look forward to welcoming the new members of our team on board to work alongside our existing committed team of individuals, who provide the strength behind our growth strategy.”
"We're now looking to improve those stores. We'll be adding a larger convenience and grocery offer, expansion of store, redevelopments, and working with food to go operators. Our job is grow the business and add jobs.”
The recent acquisition which was supported by HSBC, Eversheds and KPMG and other purchases, have enabled HKS to strengthen their position nationwide including increasing presence in the North as well as London and the M25 region.
The company, which took the award for Business of the Year at the Midlands Asian Business Awards in May is estimated to be worth £38m by the Asian Rich Lists Midlands. It was founded in 1984 by three brothers, Hasmukh, Kamlesh and Sailesh who all worked at the Clocktower service station in Coalville, Leicestershire.
They took on an operating lease from oil company Mobil for the site. The trio then began operating a number of sites for various oil companies and in 2000, they bought the Clocktower site from BP and started a steady series of acquisitions.
In 2013 their subsidiary HKS Motors completed the acquisition of two petrol stations in Derby and Leicester backed by a £700,000 finance package from Santander.
Through their brand HKS Motors the company also operate a small number of sites providing on site vehicle garages providing professional repairs and MOT's.
Brobot was founded by John Bootle in 1978 with a single site at Melton Mowbray and expanded through acquisitions over the years. He died early in 1996, following which Brobot continued its growth under the chairmanship of his wife, Pat Bootle and her dedicated executive directors, Bridget Smith and Eddie Bright.