Penny Petroleum expands with three new sites
Penny Petroleum, the North of England based petrol retail station operator, is to add three new petrol stations to its current 28 sites after securing a funding package worth in excess of £1 million.
Trading for 21 years, the company aims to become one of the largest independent operators in the sector.
The funding from Santander will help the business to purchase three additional sites in Tyneside and County Durham, and to refurbish some existing sites.
Penny Petroleum said the expansion will generate “significant numbers” of new jobs.
David Penny, owner of Penny Petroleum, added: “The three new sites will bring our portfolio to 30 retail outlets and I expect this to grow even further, to 40 sites by the end of 2016. We had 20 outlets a year ago and I credit our success to our excellent business model and ambition of our new management team.”
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