Olerex acquires Latvian operator KOOL Latvija
Estonian retailer Olerex becomes a player in the whole Baltic region with the acquisition of 10 stations in Latvia.
Aqua Marina, the holding company for Olerex group in Estonia, is acquiring Latvian petrol station and convenience store chain KOOL Latvija.
“Entering now directly into Latvian market, we bring in our market power, experience, and innovative mind, which will add value not only to KOOL Latvija, but to the whole Latvian petrol industry,” said Antti Moppel, Board Member of Aqua Marina.
KOOL’s biggest shareholder Baltcap Growth Fund and its partners have developed the network over three years. The chapter will now be in the hands of Estonian retailer Olerex.
Sandis Šteins, KOOL Latvija CEO, will continue managing the company. “Becoming the Latvian branch of Olerex international retail network opens up many new opportunities for our customers, and accelerates our growth speed,” he said.
After acquisition of KOOL, Olerex becomes the only fuel company of Baltic origin that operates in all three Baltic states.
