EG Group has completed its takeover of Esso Italiana which includes around 1,100 Esso service stations and 100 fuel supply contracts for third-party sites in Italy. The deal is part of the EG Group’s strategic partnership with ExxonMobil, which has made it the oil major’s largest global wholesaler customer. Italy is a new European market for EG Group to extend operations in to and the acquisition facilitates an opportunity to secure further assets in the Italian market. The completion follows the announcement of the deal last June and subsequent approval by the European Commission.
EG Group said it will look to do what it has successfully done across other markets review the network in terms of retail potential, initially partner with and invest in a few locations with recognised global and local retail brands, understand the market dynamics and consumer perceptions with a view to then having the confidence to accelerate growth and development across Italy.
It will also actively engage and work with local brands, especially aspiring food-to-go formats.
Mohsin Issa, founder and co-ceo EG Group, said: "This announcement marks the start of the expansion of EG Group into Italy and other new markets during 2018."