Petrol retailer MRH appoints Dennis Millard as chair ahead of £1bn float

 
Courtney Goldsmith
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MRH trades from about 450 sites in the UK (Source: Getty)

Dennis Millard, the chairman of Halfords, has been appointed as the chair of Britain's largest independent petrol retailer ahead of the group's possible flotation.

MRH GB, which owns more than 450 fuelling sites, most of which are branded Esso, BP and Shell, has pinched Millard as the company reportedly prepares a £1bn-plus initial public offering (IPO).

MRH chief executive Karen Dickens said Millard's retail experience would be "invaluable" as the company develops its business plan. Millard is also on the board of retailer Superdry and Pets at Home Group.

“With our strategically located estate, we are well placed to capitalise on the growing trend for convenience and food-to-go, giving customers more reason to visit and shop with us. We look forward to benefitting from Dennis’ considerable expertise in this area," Dickens said.

Sky News reported the company was aiming to announce its intention to float at the end of the month.

MRH has previously said it was assessing a range of strategic options, including an IPO, though no decisions had yet been formalised.

Recent reports have also emerged that rival retailer Motor Fuel Group, which trades from nearly 440 sites in the UK, has mulled plans for a £2.5bn merger with MRH.

The fuel retail sector is currently clouded in uncertainty due to the expected rise in electric vehicles.

MRH has been owned by US private equity firm Lone Star Funds since 2016, and last year it hired bankers at Citi, JP Morgan and Numis Securities to oversee a public listing.

MRH declined to comment.

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