Petrol seller revs up plans for growth with buyout

A Glasgow-based petrol retailer has secured a new £3 million funding package to invest in its portfolio of sites.

Sood Enterprises, which operates six filling stations in the west and one in Fife, is also now under the ownership of a family trust following a management buyout.

In addition to a major upgrade of fixtures, fittings, equipment and technology, the investment programme will see the current network fitted out with Subway concession outlets.

Raman Sood, managing director of Sood Enterprises, said: “New acquisition sites are hard to find in the right location. Looking ahead we are confident in our future growth, thanks to our ongoing relationship with Bank of Scotland.”

Stephen Owens, the bank’s relationship director, added: “Sood is an interesting business and we’re pleased to lend our insight and expertise to its directors as it enters this new phase of ownership. Investing in its existing site portfolio is a smart move.”