The Maxol Group is to acquire seven forecourt and convenience stores from Naas Fuels Limited, bringing the group’s Irish network to 252 locations.
The multimillion-euro investment, approved by the CCPC, was announced by the chief executive of the group, Brian Donaldson.
It is the latest in Maxol’s €100 million 2023-27 investment strategy for growth, which was announced last year and will expand the retailer’s portfolio in Leinster.
The family-owned Irish company has acquired seven forecourt sites from Naas Fuels Limited, trading under the Circle K brand, the convenience retail stores that operate under the Gala brand.
New Sites
The seven sites are located in Ballylinan, Laois; Gorey, Wexford; Kiltale and Ratoath, Meath; Maganey, Carlow; Prosperous, Kildare; and Wicklow Town, Wicklow.
Maxol will support the new sites with a €3 million retrofitting programme that will include branding and signage.
The introduction of the Maxol store concept will also feature the Maxol deli, ROSA Coffee stations, and Maxol car-washing facilities.
The locations acquired aim to support Maxol’s long-established model of operating in and supporting local communities, as well as the domestic economy.
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.
The move has been made as fuel becomes less central to the travelling experience, due to alternatives growing in popularity.
‘Future-Proof The Business’
Earlier this year, Maxol launched its first rapid electric vehicle (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 Republic of Ireland hub is planned at Maxol Ballycoolin in the next 12 months.
Following an initial investment of €1.2 million in its Republic of Ireland hub, Donaldson 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.
Speaking about the acquisition, Donaldson said, “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.
“Today’s announcement is a statement of our intent for the business.
“In the last ten years, we have invested over €225 million in our retail network, comprising expenditure programmes and initiatives designed to future-proof the business and to meet the changing demands of our growing customer base.
“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.”
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