Forecourt operator and investor Roadside Real Estate has completed its £28.6 million acquisition of Hoch Group, adding 12 petrol filling stations and a standalone convenience store to its growing portfolio.
The AIM-listed company said the deal marks a significant step in its strategy to build a scaled energy forecourt and convenience retail business across the UK.
The Hoch portfolio comprises 12 operational petrol filling stations and a standalone convenience store, predominantly clustered in Cumbria. The acquisition takes Roadside's estate to 20 sites nationwide.
Chief executive Charles Dickson said: “This transaction represents the next step of the Roadside journey to build a scalable, energy forecourt and convenience retail business in the UK.
“Hoch Group is a high-quality portfolio with unrealised potential and underscores management's commitment to creating shareholder value through the identification and delivery of operational and financial synergies derived from a scaled portfolio.”
Roadside funded the acquisition through a combination of a new HSBC revolving credit facility, proceeds from the sale of shares in Cambridge Sleep Sciences, and existing debt facilities.
Alongside the completion of the Hoch deal, the company announced a new £25 million revolving credit facility with HSBC, including an additional £10 million accordion option, to support future acquisitions.
The latest transaction follows Roadside's acquisition of Gardner Retail earlier this year and further strengthens its presence in the UK forecourt sector at a time when operators continue to seek scale and operational efficiencies.
The company has also agreed to acquire a standalone petrol filling station in Huntley, Gloucestershire from Jets Trading Ltd for £2.9 million.
The Ross Road site deal, which is expected to complete in early July, sells around 4.5 million litres of fuel annually and includes a Morrisons Daily convenience store. The forecourt currently operates under the TotalEnergies brand but will be rebranded to Valero following completion.
Roadside said the site generated profit before tax of £373,000 in the year to June 2025 and is expected to be immediately earnings accretive.
Commenting on the Huntley acquisition, Dickson said: “This acquisition is fully aligned with Roadside's strategic ambition to capture value through the ownership and operation of strategic roadside assets and is an accretive addition to the Gardner portfolio.”
Steve Rodell, managing director of retail and leisure at Christie & Co, which advised on the Hoch sale, said the transaction demonstrated strong investor appetite for quality forecourt assets.
“The completion of this transaction underlines the depth of demand we continue to see for high-quality forecourt portfolios with strong fundamentals,” he said.
“This deal demonstrates what can be achieved through early strategic planning and proactive deal management by collaborative advisers.”