The convenience store and forecourt operator for brands including Londis, Morrisons and Budgens is set to expand its national estate after securing a £15m funding package from HSBC UK.

The Samy Group will support the growth of its portfolio of convenience stores and petrol filling stations across the Midlands and North East of England.

The Group plans to extend its number of stores from 64 sites to over 100 locations by 2028 with the investment from HSBC UK.

Owner of Samy Group, Mohan Palanisamy, said: “This is our first external investment, and while the business has been growing strongly, this funding will significantly accelerate our ability to scale sustainably.

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“It will also allow us to enhance the efficiency of our existing operations through a programme of store upgrades. With the support of HSBC UK, we now have the capital to pursue larger acquisitions and strengthen our position as a major convenience store and PFS operator.”

The funding is set to support acquisitions to grow the convenience store estate as well as reduce intercompany loans and renovate existing stores after expansion.

Global relationship director at HSBC UK, Zareen Smith, added: “This funding represents a fantastic opportunity for Samy Group at a time when consumer shopping habits continue to evolve.

“We look forward to supporting the team as they pursue further acquisitions and build on their already impressive portfolio.”

The Samy Group manages an estate which includes directly operated petrol filling stations; convenience stores such as Morrisons Daily; and commission operator sites.