A convenience store and forecourt operator for brands including Londis, Morrisons and Budgens is set to accelerate its national growth following an eight figure funding package from HSBC UK.
The Samy Group has secured £15 million to support the expansion of its portfolio of convenience stores and petrol filling stations 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.
In addition to supporting acquisitions, the investment will be used to consolidate intercompany loans and refresh existing stores following a period of rapid expansion.
Mohan Palanisamy, owner of Samy Group, said: “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.”
Zareen Smith, global relationship director at HSBC UK, 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.”
The Samy Group estate includes directly operated petrol filling stations, convenience stores and commission operator sites.
