Australia: Viva Energy boosts growth with new acquisitions

Australian fuel retailer Viva Energy REIR acquired 8 service station properties for AUS$89 million.

After finalizing the acquisition of Shell´s aviation business, Viva Energy continues to expand its fuel retailing network in Australia with these new 8 sites.

“We are pleased to have the opportunity to acquire these good quality and strategically located properties, which further diversify our existing portfolio,” said Managing Director Margaret Kennedy.

The acquisitions will boost the Shell licensee´s portfolio to 437 properties valued at $2.22 billion.

Australia currently has an estimated 6,800 petrol stations with most of them operated by small operators. The three largest owners and operators (Caltex, Coles and Woolworths) have a 33% market share, according to ACAPMA.