Greggs deals help Gerald Ronson’s forecourt business post £100m profit
The petrol forecourt empire owned by City veteran Gerald Ronson has turned a profit just shy of £100m after an expansion in the firm’s partnership with Greggs.
GMR Capital, the parent company behind forecourt firm Rontec, posted pre-tax profit of £98.4m for the year to end September 2025, a jump of 6 per cent compared to the previous year, despite a 7 per cent fall in turnover over the same period.
During the year Ronson’s GMR expanded its Greggs franchise business by 13 per cent to a total of 43 stores, adding that it plans to “continue to extend existing site footprints to accommodate larger convenience stores and additional food partnerships.”
But the firm’s biggest financial boost came from an upward revision to valuations of its extensive property empire, which comprises 267 leasehold and freehold sites including more than 200 petrol stations.
A fresh valuation by Colliers International Property Consultants upgraded the value of the firm’s property portfolio by a whopping £310m to top £1.5bn.
Ronson pivots to EVs
Despite the long-term expected trend of fewer petrol cars on the roads, GMR said it expected to grow revenue at forecourts by attracting more EV drivers with faster car charging points.
“Our focus remains on Ultra-Fast charging, ensuring that our sites remain the preferred choice for time-sensitive customers,” GMR said.
“We are well-positioned to scale this offer as consumer demand for EV and hybrid infrastructure grows.
“The group remains committed to installing ultra-fast EV charging hubs, with six sites currently in operation and an additional six hubs scheduled for completion within the next nine months. Plans are in place to continue this rollout across the network.”
But the company warned its EV charger rollout plans have been “constrained by delays” in connecting to the high-powered grid.
GMR also said that the Ronson family yacht, which was owned by a subsidiary of the business, had been sold to a partnership led by Ronson’s wife Gail for 2m euros. The family’s private jet remains in the ownership of the company and is leased out to Mr Ronson.
GMR’s results coincide with the 40th anniversary of the Guinness share trading scandal, in which a group of four businessmen including Ronson, who became known as the “Guiness Four,” were accused of conspiring to inflate the share price of the London-listed brewer.
Ronson, who went on to develop Square Mile skyscraper Heron Tower, was jailed for a year and fined £5m for false accounting, conspiracy and theft.
The octogenarian has since been knighted for his charity work.