Allegro Funds outlines plans to add new Gull sites and create fuel card

Allegro Funds outlines plans to add new Gull sites and create fuel card
Allegro Funds' managing director, Fay Bou said Gull will create a business fuel card and hopefully a future beyond 2050. (Photo: Allegro Funds)
Dan Brunskill
Allegro Funds, the Australian private equity firm which bought Gull from Ampol earlier this year, is a self-described ‘turnaround’ fund that specialises in buying distressed businesses. So, why did it buy a growing, profitable fuel retailer for more than half a billion dollars? Managing director Fay Bou said while Allegro started in 2004 with a focus on rescuing troubled businesses, it now invests much more broadly. “Irrespective of whether you're buying a business that's distressed or is performing well...

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