Maxol Group expands with acquisition of seven forecourts
The family-owned Irish company has acquired the seven forecourt sites from Naas Fuels Limited trading under the Circle K brand
Print16 July 2024
The Maxol Group has confirmed CCPC1 approval for the acquisition of seven forecourt and convenience retail stores, bringing to 252 Maxol’s nationwide network of sites across the island of Ireland.
The multi-million Euro investment announced by chief executive officer, Brian Donaldson, is part of Maxol’s €100 million 2023-2027 investment strategy for growth announced last year and will expand the retailer’s portfolio in the Leinster region.
Site locations
The family-owned Irish company has acquired seven forecourt sites from Naas Fuels Limited trading under the Circle K brand, the convenience retail stores of which operate under the Gala brand.
The seven sites are located in:
- Ballylinan, Laois
- Gorey, Wexford
- Kiltale and Ratoath Meath
- Maganey, Carlow
- Prosperous, Kildare and
- Wicklow Town
The seven sites will be supported by a €3 million retrofitting programme that will include Maxol branding and signage, the introduction of the Maxol store concept and will feature the Maxol Deli, ROSA Coffee stations and Maxol car wash facilities.
“This acquisition is central to our long-term strategic plan to invest in retail sites that offer the potential for growth in the core areas of neighbourhood food convenience and top up shopping,” said Brian Donaldson, chief executive officer, The Maxol Group.
Investments
In the last ten years Maxol has invested more than €225 million in their retail network, comprising expenditure programmes and initiatives designed to future proof the business and to meet the changing demands of their growing customer base.
The locations of the sites acquired by Maxol support its long-established model of operating in and supporting local communities as well as the domestic economy.
“All existing staff will be transferring as part of the deal and the new sites will be operated by independent retailers under licence from Maxol,” said Donaldson.
Non-fuel sales
More than half of Maxol’s income now comes from non-fuel sales in line with the repositioning of the company as a leading convenience retailer, as fuel becomes a smaller part of sales and income from new forms of mobility grows in importance.
Earlier this year Maxol launched its first rapid EV hub in the Republic of Ireland at Maxol Newbridge, featuring six high speed 200kw chargers.
With two Maxol EV hubs already in operation in Northern Ireland, a second ROI hub is planned at Maxol Ballycoolin in the next 12 months.
Following an initial investment of €1.2 million in its ROI hub, Donalson confirmed that the business is considering a further 20 sites across Ireland, for which it hopes to submit planning permission applications for similar EV charging hubs during 2024 and 2025.
Maxol’s expanded network of 252 sites now comprises 122 company owned stores and 130 independently owned sites operating under the Maxol brand.
Operating as an Irish family business for 104 years, more than 80 people are employed directly and more than 1,200 indirectly by The Maxol Group across Ireland.
Read more: Maxol ‘turns scents into cents’ with new campaign launch
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