Fuel retailer MOL Group has signed an agreement with Grupa Lotos SA and PKN Orlen to acquire more than 400 service stations in Poland.
As part of the agreement, MOL Group has acquired 417 service stations, including 270 company-owned sites, a move that positions it in third place in the Polish fuel retail market.
MOL Group Polish Expansion
With the acquisition, MOL Group has entered its 10th country with its Consumer Services business. The new additions bring the total number of service stations in its portfolio to 2,390, operated under five different brands.
This includes the recently-acquired 120 OMV Slovenia service stations and 95 new service stations in Slovakia and Hungary, with both deals subject to merger clearance.
In a statement, MOL Group said that it hopes to become a major player in the Polish fuel retail market, with the deal representing an expansion opportunity that fits its growth strategy.
"For MOL, this deal represents a major step on the strategic transformational journey we started in 2016 and accelerated last year with our updated strategy," commented Zsolt Hernádi, chairman and CEO of MOL Group.
"With this acquisition, we will gain access to the biggest economy in Central and Eastern Europe, reaching almost 40 million potential customers with our products and services. [...] Our common goal is to ensure the safe energy supply of the CEE region, and I believe that the North-South energy corridor will strengthen further with this agreement."
The acquired network offers a strong market position, MOL Group added, largely constituting highway locations with further organic growth opportunities.
“A little under one year ago, we introduced MOL’s 2030+ strategy, and our aim was to expand our service station network to 2,200 units in the CEE region by 2025," commented Péter Ratatics, executive vice president of consumer services, MOL Group.
"By completing this transaction, surpass this target as we welcome Poland into our Consumer Services portfolio. We won’t stop here, as we believe that Consumer Services has a great potential along the way of the energy transition. Our aim is to serve an increasing number of customers and to provide mobility solutions in line with changing consumer habits, along with the best quality services and goods."
The deal is subject to PKN Orlen receiving approval from the European Commission to close its merger with Lotos.