“They’re asking for 4% of everything I sell in my store. I don’t even make a 4% profit on some goods. It’s completely unjust. It’s forcing us to write off a huge number of things in our store.
“We are not opposed to paying rates; nevertheless, we are seeking a fair settlement for all parties involved.
Big fuel companies
In Ireland, there are approximately 1,500 gas stations left. Around a third of the stations are privately held, with the rest run by large petroleum firms including CircleK, Applegreen, and Maxol.
Many smaller businesses, according to Mr McSorley, are refusing to pay the new rates bill, instead paying the old amount and filing appeals, which can take up to six months, with following hearings lasting up to two years.
“The most serious issue is in rural regions. The majority of those sites barely break even. They wouldn’t be able to generate the same profit margins on petrol as they could in Dublin.
Pat McDonagh, the founder of Supermacs, whose company owns seven gas stations, is driving efforts to sue the government in Europe over the fee hike.
In the year 2020, how many petrol stations will there be in the United Kingdom?
The number of petrol stations in the UK was 8,385 by the end of 2020. This was much less than the country’s total number of petrol stations, which stood at 21,750 across the country.
What is the total number of Applegreens in Ireland?
It has also become the majority shareholder in the well-known Welcome Break highway services business in the UK, as well as considerably expanding its footprint in the United States.
With the arrival of Welcome Break came 29 hotels under the Days Inn and Ramada brands.
Applegreen shares debuted at $3.80 (3.50) a share and reached an all-time high of $5.98 in September 2018. (5.46).
However, they have fallen precipitously this year, reaching as low as 1.78 (1.63) at one point during the height of the coronavirus pandemic fears on March 27, this year.
They went on to rebound to 3.60 (3.29) earlier this month, but many analysts still believe the company is undervalued.
In October, Davy, a Dublin-based stockbroker, assigned a break-up value of 7.60 (6.94) per share to the company.
On that basis, the 5.75 ($5.25) per share takeover price appears to be a steal, despite the fact that it represents a near 64 percent premium over the average share price in the three months preceding rumors of a possible bid, as the firm itself pointed out today.
It’s difficult to explain why Mr Etchingham and Mr Barratt’s B & J Holdings, which held 41.3 percent of the company, looked to be undervalued by investors.
The major assumption seems to be that shareholders were concerned about the company’s net debt levels after the landmark acquisition of 50.1 percent of Welcome Break in 2018 for 361.8 million (330.5 million).
This increased to 550 million (502 million) at the end of June this year, despite the fact that the majority of the debt was held by Welcome Break rather than the larger Applegreen company.
Some investors appear to believe that the group is engaged in low-margin activities.
Although fuel retailing is a low-margin company, it is only a small component of Applegreen’s overall operations.
Rather than selling gasoline, two-thirds of the group’s profit comes from operating convenience stores and selling food.
In any case, the ongoing downturn in the share price provided a chance for the founders – who have raised 49 million (45 million) in share sales since the IPO – to buy the company for a low price.
“Applegreen will shift its business through capital intensive highway projects and electric vehicle charging infrastructure to fulfill the needs of an emerging consumer,” Mr Etchingham stated today.
“We feel that private ownership is the best structure for this transition, and that in Blackstone Infrastructure Partners, we have found the right partner for the next stage of the Applegreen journey, with its long-term focus and tremendous capabilities to accelerate our growth.”
In Ireland, how many diesel stations are there?
Our broad network gives our customers access to 1,719 service stations across Ireland, making us the leading fuel card supplier in Ireland with over 85 percent coverage.
In Wales, how many gas stations are there?
In England and Wales, there are around 7,000 petrol stations, ranging from lone traders with a single garage to multinational dealers with over 1,000 locations.
Is BP the owner of Applegreen?
Applegreen Limited is a wholly owned subsidiary of Applegreen. Applegreen is a large forecourt store having locations in Ireland, the United Kingdom, and the United States.
Applegreen began modestly in 1992 with the opening of our first service station in Ballyfermot, West Dublin. Applegreen continued to expand in Ireland under the leadership of CEO Bob Etchingham and COO Joe Barrett, with year-on-year growth.
The Group now employs over 10,700 people across Ireland, the United Kingdom, and the United States. As of December 31, 2018, the Group had 472 forecourt sites spread among the Republic of Ireland (193 sites), the United Kingdom (158 sites), and the United States (121 sites).
Our 121 US locations in the North and South East territories operate strategic combined Fuel Distributor (Shell, Exxon, Mobil, Sunoco, BP, and Chevron) and Food Partnerships, offering both own brand and nationally recognized food brands such as Burger King, Subway, 7-Eleven, Hunt Brothers Pizza, Pizza Hut, and Mama DeLuca’s Pizza.
Across the forecourts where Applegreen operates, there is a distinct retail offering. At all of our locations, we strive to deliver high-quality food and hot beverage options. This is accomplished through Applegreen’s own brand as well as our international food brands.
Who is the owner of Applegreen Limited?
In a 718 million deal sponsored by Blackstone, the huge private equity investor, the Irish petrol forecourt company that owns Welcome Break will be taken private by its owners.
Bob Etchingham, Applegreen’s CEO, and Joseph Barrett, its Chief Operations Officer, own 41.3 percent of the company through their B&J Holdings vehicle, which has made a recommended 5.75-per-share offer with Blackstone Infrastructure Partners’ backing.
Is it true that gas stations make money?
‘Petrol stations are not profitable.’
There’s also the cost of the fuel itself, as well as delivery. Retailers aim for a profit of around 4-5p per litre, but they must pay for staff, business rates, and corporation tax.