(AWP) Rate (VALN 160.60 +0.75%) continues to expand its branch network and takes over 71 petrol station shops from Oel-Pool. The takeover is to take place gradually from April 2023, the company announced on Monday. No information is given in the report on financial details.
According to the information, the stores taken over are located at BP gas stations in western, northwestern and eastern Switzerland. All locations are secured in the long term and are to be operated under the “Avec” brand, it said. By the end of 2023, the branch network at Swiss petrol stations should grow to 170 stores and achieve sales of over CHF 300 million in the medium term.
According to the report, the takeover is subject to the approval of the Competition Commission Weko. In the summer of 2021, Valora had already taken over 39 petrol station shops from Moveri, Oel-Pool’s fuel company, primarily under the “Aperto” brand. Most of these shops have now been transferred to the Avec sales outlet network.
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