Maxol is set to increase the amount of service stations it has in Leinster, following regulatory approval for its plans to acquire Naas Fuels. The Competition and Consumer Protection Commission (CCPC) gave the green light to the planned purchase after conducting a thorough analysis of the proposed acquisition. Maxol had brought to the regulators’ attention its desire to buy Naas Fuels, which owns seven service stations across the Leinster region, back in December. The regulators initiated an exhaustive investigation in April to ascertain if the planned takeover would potentially harm competition in the state.
The regulators concluded that Maxol will still face competition in retail petrol sales and forecourt convenience stores operation. They confirmed that the takeover would not greatly inhibit competition, hence it was approved.
The takeover incorporates seven locations in Ballylinan, Co Laois; Gorey, Co Wexford; Kiltale and Ratoath in Co Meath; Maganey, Co Carlow; Prosperous, Co Kildare; and Wicklow Town. At the moment, these stations operate under the Circle K brand and feature Gala convenience stores.
This acquisition will raise the total number of Maxol-branded locations across Ireland to 252. The company intends to inject €3 million into rebranding the Circle K stations to Maxol, including changing the signage, and installing Rosa Coffee stations, Maxol car wash facilities and a deli. The current employees in the stations will be retained and the new sites will be managed by independent retailers under a Maxol licence.
Maxol CEO, Brian Donaldson, said the acquisition is a key part of their long-term strategy, as they look to invest in retail sites that present growth potential in the core areas of neighbourhood food convenience and top-up shopping.
Maxol’s acquisition of the service stations and subsequent capital outlay is a component of their announced €100 million development blueprint from the previous year. Recently, the firm debuted its initial quick electric vehicle charging centre in the Republic of Ireland, setting up six 200KW fast chargers at the Newbridge Maxol station. They also have plans to install a additional station at the Ballycoolin Maxol site within the coming year.