Law firm Gordons advises Goole retailer Jos Richardson & Son on Escrick fuel station acquisition
Tuesday 9th August 2011
Yorkshire law firm Gordons has advised Goole-based motor, fuel and convenience retailer Jos Richardson & Son on its acquisition of a single BP fuel station and Costcutter convenience store located on the A19 at Escrick, near York, for an undisclosed sum.
Established in 1892, Jos Richardson & Son is a family run business with a turnover of £30m and a portfolio which includes fully franchised Peugeot and Vauxhall car dealerships, Shell and Jet petrol stations and Spar convenience stores all located in Yorkshire.
The transaction sees the company acquire the entire issued share capital of York Road Garage (Escrick) as part of its ongoing development plans.
Gordons corporate solicitor Jonathan Asquez advised Jos Richardson & Son’s management team on the transaction.
Commenting on the acquisition, Jos Richardson & Son director, Joseph Richardson, said: “The Escrick site is an ideal addition to our existing portfolio. It fits perfectly with our ongoing expansion strategy of acquiring fuel stations and convenience stores which we believe we can enhance over time.
“Throughout the acquisition process Gordons provided us with a highly professional and diligent service. Jonathan and his team were always available to provide intelligent advice which meant we were able to keep the momentum up and complete the transaction within agreed timescales.”
Jos Richardson & Son employs 80 people and is headquartered at its Glews Garage offices in Goole just off Junction 36 of the M62, which is also the location of the company’s Peugeot and Vauxhall dealerships.
Jonathan Asquez said: “We are very pleased to have been able to assist Jos Richardson & Son in this latest acquisition. The company has a great legacy and through deals such as this clearly demonstrates its vision for the future.”
Accountancy advice was provided to Jos Richardson & Son by Atkinsons in Hull whilst the sellers were advised by Hague & Dixon Solicitors in York. The acquisition was funded by NatWest with the bank receiving legal advice from Andrew Jackson Solicitors in Hull.