Roadside Real Estate PLC (AIM: ROAD) has agreed a binding deal to acquire Gardner Retail Ltd for an estimated net consideration of £17.8 million, a transaction the company said will be immediately earnings accretive.
The acquisition comprises six petrol station forecourts located in southwest England. For the twelve months ended 31 July 2025, Gardner Retail generated revenues of £33.9 million and adjusted EBITDA of £2.1 million.
Funding for the deal will be supported through an amendment to Roadside’s existing Tarncourt Facility, increasing the maximum facility size to £35.0 million. Total borrowings drawn under the facility are expected to be £26.6 million on completion of the transaction.
Separately, Roadside Real Estate confirmed it plans to publish its full-year results in January 2026.
Acquisition Highlights
· The Acquisition is expected to be immediately accretive to the Company’s underlying earnings in the current financial year ending 30 September 2026, and supports the Group’s objective of building a resilient, income-generative portfolio of assets.
· The Gardner Retail portfolio comprises six highly sought-after trading sites in Southwest England, which based on FY25 figures amount to approximately 22 million litres of fuel sales.
· For the 12 months ended 31 July 2025, Gardner Retail achieved total revenue of £33.9 million, adjusted EBITDA[1] of approximately £2.1 million and profit before tax of £0.6 million.
· As at 31 July 2025, Gardner Retail had gross assets of £12.2 million.
Charles Dickson, Chief Executive Officer commented:
“This transaction marks the start of a new chapter in the execution of our strategy to build a high-quality portfolio of modern roadside retail assets and is a significant step in enhancing our competitive positioning. Our highly experienced team and strong track record in realising value from real estate assets will play a key role in unlocking future value.
We are delighted to welcome the Gardner team to the Roadside family and we look forward to working with them to achieve our future goals and create value for our shareholders.”
