Fuel Operator MOL Group Expands Operations In Slovakia, Hungary
Budapest-based fuel operator MOL Group has expanded its operations in both Slovakia and its native Hungary, following the completion of two transactions.
The group has announced the acquisition of 100% of Normbenz Slovakia s.r.o. from Normeston Group Cyprus Limited, in a share deal, which includes 16 service stations in Slovakia operated under the Lukoil brand.
Elsewhere, the group has also completed a deal with Marché International AG to acquire nine restaurants in Hungary that trade under the Marché brand.
The acquisitions form part of the group's Shape Tomorrow 2030+ strategy, which places additional focus on the development of consumer services, it said.
“Further developing the food and convenience offerings and expanding the network is both part of our updated strategy and serves our aim to become regional leader in fuel and convenience retailing," commented Péter Ratatics, executive vice president for consumer services at MOL Group. "In order to reach that, we seek new opportunities with a new determination.
"Welcoming the 16 new service stations in Slovakia gives us the opportunity to expand our presence in the country and to introduce our existing Fresh Corner concept throughout the new Slovnaft stations."
Ratatics added that the acquisition of the nine restaurants in Hungary also created "new perspectives" for the business, as the company "can take its gastro offer to a whole new level and reach a wider audience with its retail services.”
Seven of the nine restaurants involved in the acquisition have been part of MOL service stations for more than a decade, the group noted.
MOL's Fresh Corner banner now operates 955 outlets, and helped contribute to a record performance for the business' consumer services segment in 2020, as EBITDA rose to $510 million, it said.
The transaction in Slovakia is subject to competition clearance from the Antimonopoly Office of the Slovak Republic (AMO), while the deal in Hungary is subject to clearance from the GMV, Hungary's competition authority.
© 2021 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: The European Supermarket Magazine.