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

Mon, 22 Aug 2022

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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