Britain's leading Asian-owned business, Leicester-based HKS Retail has been sold to international petroleum products retailer and energy company, Prax at an undisclosed amount. Founded by Hasmukh, Kamlesh and Sailesh Thakrar, in 1984, HKS has around 70 petrol stations in the UK and employs over 600 people across the nation. It began operations in Coalville, with a filling station, and earlier this year, was ranked Sunday Times Grant Thornton Top Track 250 league list.
In the 2018 Top 50 Indies, Leicester-based HKS had 68 sites and claimed a turnover of £250 million. A Prax spokesperson said, “Prax has confirmed the acquisition of HKS Retail, a leading retail petrol station business. The acquisition reflects the group's strategic objective to move into a new stage of accelerated investment, growth and development.”
Prax Group is involved in petrol trading, storage, distribution and retail business. At the end of last year Prax Group bought Retail Fuels Limited, which was ranked 35 in the 2017 Top 50 Indies listing with nine sites. At that time, Sanjeev Kumar, co-founder and chief executive officer of the Prax Group, told Forecourt Trader: “We look forward to working together to become one of the UK forecourt sector’s most successful operators.”
