31.01.2020

Jet reveals plans for 50-100 co-owned sites

Plans are under way to develop a Jet-branded company-owned network of between 50-100 sites, according to Mary Wolf, director of Jet Retail UK Ltd, a wholly owned subsidiary of Phillips 66.

The numbers were revealed following the official opening of Askern Service Station in Doncaster, on January 30th, following a significant refurbishment – the first of a new breed of Jet-owned sites to feature both the company’s smart new forecourt branding, rebranded Jet Ultra premium fuels range and stunning new Spar shop format. The second site to undergo the same upgrade – Balby Road Filling Station, also in Doncaster – opened today (January 31).

Jet Retail UK now owns nine sites, following its acquisition of Nick Baker’s NJB Services’ five sites in October 2018 – including the Askern and Balby sites; and four sites sold by Harrogate Investments, run by Joan and Barry Raw, in December 2019. But with money to invest in boosting the Jet brand in the UK, the company has its sights set on a significant number of further acquisitions.

“Business development is so unpredictable, but our vision is to have our own portfolio of between 50-100 sites over probably the next five years,” confirmed Wolf.

“We’re definitely currently acquiring in the market – choosing sites that will fit with what we want to do with the brand and our concept; sites that will be able to show dealers and consumers alike what Jet is all about.

“There’s a lot of good opportunity in the market – there’s always something for us to be looking at and working on. We would also look at new-to-industry opportunities, which is a very exciting part of the business that’s come on in the past couple of years.”

She said the owned network gave the company a greater understanding of the business its dealers are in: “We’ve learned a lot about what works and what doesn’t. It’s a great way of helping our dealers develop their businesses – we’re in the same situation as them. It’s not just about the fuel. You have completely different conversations – those of experience. It will make us better business partners.”

 

[source: Forecourt Trader online]