EG Group completes acquisition of Germany’s Esso network
The British gas station group has closed one of the largest acquisitions in the European fuel retailing market involving around 1,000 Esso-branded sites in Germany.
ExxonMobil and EG Group have completed the sale of the German Esso service station network has been successfully concluded, and EG Group will operate as a brand partner of Esso in the future. It follows the agreement by both companies at the end of November last year.
“It goes without saying that our high performance Synergy fuels and Mobil lubricants will continue to be sold at German Esso stations. Together with EG Group, our new brand partner, we now plan to ensure Esso’s growth in Germany,” said Florian Barsch, CEO of ExxonMobil Central Europe Holding GmbH in Hamburg.
With this move Blackburn-based (UK) EG Group adds a large network in Germany to its existing retail sites in the United Kingdom, France and the Benelux area. The company now operates some 5,000 stations in Europe and the U.S.
“For us, the Esso petrol station network in Germany provides a strong retail platform to further develop and build on. EG Group is committed to investing in a comprehensive, convenience retail offer which provides fuel, convenience store and food-to-go offer ahead of the market,” said Mohsin Issa, founder and co-CEO of the EG Group.
Responsibility for the development of fuels and lubricants, the Esso brand as well as marketing will remain with ExxonMobil, while EG will be in charge of operations, including fuel pricing activities.
The European competition authorities gave their approval last January for the intended sale.
