Esso is to pull out of Northern Ireland following the announcement by Maxol that it is to acquire 13 Esso company-owned forecourts in the region.
The purchase is part of Maxol’s all-Ireland development strategy, and it plans a £5m modernisation programme for the sites. The move increases its number of company-owned sites in Northern Ireland to 41.
As part of the transaction Maxol will sell three of its stations in the Leinster area to Esso. The two parties have agreed a completion date of June 14, and Maxol is now seeking to recruit operators for the Esso sites.
In terms of the Esso dealer-owned network, existing contractual arrangements will be honoured but will not be renewed when they expire. “Dealers will be put in contact with Maxol and given the opportunity to establish a commercial relationship with Maxol Oil,” said an Esso spokesman.
Brian Donaldson, Maxol’s general manager in charge of retail and marketing, said: “Maxol’s strong commitment to motorists in Ireland is amply demonstrated by the investment it has made in recent months in locations such as Edenderry, Belfast and Bangor. Total expenditure, including two rebuilds in Dublin and County Mayo, is in excess of £5m.”