Leading convenience store and forecourt operator Samy Group has secured a £15 million funding package from HSBC UK to support a major expansion drive across the Midlands and North East of England.
The group, which operates stores under fascias including Londis, Morrisons and Budgens, plans to grow its estate to more than 100 locations by 2028 as part of its long-term growth strategy. It is owned by Mohan Palanisamy.
The funding is set to support acquisitions to grow the convenience store estate as well as reduce intercompany loans and renovate existing stores after expansion.
Founded in 2009, The Samy Group operates 73 convenience stores and forecourts across the UK. A key turning point came in 2012 with the launch of its first independently operated forecourt store at Tudor Lodge Service Station in Middlesbrough, where weekly fuel sales surged by 260 per cent and shop sales rose by 280 per cent following investment in staff and retail standards.
The business accelerated its expansion strategy in 2018 through its first corporate acquisitions, converting two former Central England Co-operative stores in Leicester and Birmingham to the Budgens fascia.
In 2019, the group completed the acquisition and integration of 15 operating stores from Sainsbury’s, primarily across Yorkshire and the North East, with staff transferred under TUPE regulations.
Since then, the operator has continued to strengthen its estate through acquisitions from major retailers and forecourt operators including Ascona Group, Tesco, Midcounties Co-operative and Central England Co-operative.