MOL Group completed the acquisition of the entire share capital of ENI Hungaria, which manages 173 Agip branded service stations in Hungary, including dealer owned sites, as well as wholesale activities in the country, excluding the Eni branded lubricant wholesale business. MOL Group now has a retail network of over 2,000 service stations across 10 countries in Central Eastern Europe, with its retail network growing to over 500 service stations in Hungary alone.
“The completion of this acquisition further increases the markets for our refineries and ensures additional overall margin capture for our downstream business,” Ferenc Horvath, Downstream Executive VP, MOL Group said. “The acquisition and integration of around 450 filling stations in CEE over the past two years helps us to achieve our strategic goal by 2017, a significant – over 25% – fuel volume growth.”
With the acquisition of ENI Hungaria, MOL Group will rebrand the Agip stations to MOL according to the latest standards, including the introduction of the Fresh Corner concept. “We see a great potential in leveraging the newly acquired Agip selling points in line with our new Retail concept: we envisage to become customers’ obvious choice in fuel and in convenience retailing,” Lars Hoglund, Senior Vice President of MOL Group Retail said.
Over the past two years MOL Group has acquired around 450 service station in Central Eastern Europe and now its retail network reaches over 2,000 units. In 2015, MOL Group completed the acquisition of ENI’s Czech, Slovak and Romanian downstream oil business (with the exclusion of Eni branded lubricant wholesale business), whilst also acquiring LUKOIL’s business activities in the Czech Republic.
Most recently, in June 2016, MOL Group also completed the acquisition of ENI’s Slovenian downstream oil business. Through these acquisitions MOL further strengthened its market leader position in Hungary and Slovakia, has become the second largest retail network in the Czech Republic, the third largest in Romania (considering retail sales volumes) and reinforced its position as the third largest provider on the Slovenian market.