Australia: Caltex completes acquisition of petrol station network in Victoria
Caltex Australia Limited has completed the acquisition of 46 gas stations from Milemaker Petroleum.
After announcing the deal on November 2016, Caltex has finalized the purchase Milemaker Petroleum’s retail fuel business assets in Victoria for $95 million.
Caltex Australia Managing Director and CEO Julian Segal said he was delighted to be bringing the 46 Milemaker sites into the core Caltex network in Melbourne.
“We look forward to investing in the network to deliver an enhanced fuel and convenience offer to customers across Melbourne. I also wish to acknowledge the Andrianakos family who have built the Milemaker business and thank them for entrusting its future to Caltex,” Mr Segal said.
Milemaker will transfer the operations of its service stations to Caltex in the coming weeks. Caltex will enter into long term leases for each of the sites with options out to 30 years.
Milemaker founder, Nick Andrianakos said "I am very proud of the business that my family and I have created. Selling a business is never easy, however I am very happy that the business is going to Caltex who have been our partner for over 30 years.”
