The Prax Group completes OIL! Tankstellen acquisition

Announced back in October, this deal allows the company to now operate a fuel retail network of 540 locations across Europe.

The Prax Group has announced that it has successfully completed the acquisition of OIL! Tankstellen Gmbh.

The deal was announced back in October and encompasses the purchase of the petrol retail business from Mabanaft Gmbh & Co KG. This marks the Prax Group’s entrance into four new retail markets, that include Germany, Austria, Denmark and Switzerland.

The company is currently the fifth largest independent forecourt retailer in the United Kingdom selling fuel and non-fuel convenience products and services.

OIL!’s acquisition expands the Group’s petrol retail portfolio to approximately 540 sites in Europe.

“This acquisition marks our latest expansion into the European market and signals the Group’s intent to further advance its plans as a leading, sustainable and geographically diverse integrated energy business,” said Sanjeev Kumar Soosaipillai, Chairman and CEO of the Prax Group.

OIL! Tankstellen GmbH has been operating a continuously growing network of service stations since 1994. The company has sites in Germany, Austria, Switzerland and Denmark, amassing a total network of 340 locations.