WARSAW/BUDAPEST—MOL has entered into an agreement with Grupa Lotos SA and PKN Orlen to acquire 417 service stations in Poland, according to a news release. The deal allows the company to reach third position in the local fuel retail market. An additional long-term agreement provides motor fuel supply for the acquired network in Poland.
The acquisition allows MOL Group to enter into the 10th country with its consumer services segment. MOL’s number of service stations in its portfolio will reach 2,390, up from 1,943 units, operating under five different brands, including the recently acquired 120 OMV Slovenia service stations and the 95 new service stations in Slovakia and Hungary. These deals are subject to merger clearance.
According to the release, the acquisition allows MOL to emerge as a major player in the Polish fuel retail market.
“By this acquisition, we will gain access to the biggest economy in Central and Eastern Europe as well as to reach almost 40 million potential customers with our products and services. Hungarians and Poles are sharing the same historical experiences. Our common goal is to ensure the safe energy supply of the CEE region. I believe that the North-South energy corridor will strengthen further with this agreement,” said Zsolt Hernádi, chairman and CEO of MOL Group.
MOL’s regional footprint and market will be further diversified in the largest economy of the Central and Eastern European region, according to the release. The purchased set of assets will provide a basis for future growth in the country, where MOL had limited presence. Poland has strong economic outlook and high motorization rate with a massive market potential in the region with 23 million tons annual fuel consumption and 1-2% growth expectations in the mid-term. The acquired network offers particularly strong market positions among highway stations with further organic growth opportunities and significant upside to expand non-fuel sales.
“A bit less than one year ago we introduced MOL’s 2030+ strategy, and our aim was to expand our service station network to 2,200 units further in the CEE by 2025. By completing this transaction, we would even surpass this target as we welcome Poland in 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. Lotos’s great network will be an excellent base for it,”said Péter Ratatics, executive vice president of consumer services, MOL Group.
The deal is subject to PKN Orlen getting the green light from the European Commission to close its merger with Lotos.