Cepsa has agreed to purchase Ballenoil's network of service stations, comprising more than 220 establishments in Spain. Through this transaction, subject to the approval of the competent authorities, the energy company increases its service station business to more than 2,000 service stations in the Iberian market.
The company will maintain the Ballenoil brand, as well as its business model and structure, in order to consolidate its position in the low-cost segment and offer the market a range of fuels at affordable prices.
With this agreement, Ballenoil's network of stations will develop a growth plan to reach 500 petrol stations by 2027. Cepsa also aims to make Ballenoil the benchmark in terms of sustainability in the low-cost segment, for which it will reinforce the offer of electric recharging points and incorporate the sale of biofuels.
Pierre-Yves Sachet, Director of Mobility & New Commerce at Cepsa, said: "Our objective is to consolidate Ballenoil as a leading brand in the low-cost model and to position it as a benchmark in terms of sustainability in this segment. We will continue, in parallel, to transform our network of premium stations, where customers will find a range of increasingly decarbonised energy solutions and complementary catering and ultra-convenience services. With this operation, Cepsa will reach 2,000 service stations in the Iberian market, where we will be able to serve different customer profiles".
For its part, Ballenoil has commented that this agreement represents support for the project and strengthens its plan for the future, promoting the growth of the network and the incorporation of new energies, as well as guaranteeing the supply of fuels.
At present, the Ballenoil service station network, which implemented a new business model in Spain for the operation of automated service stations in the low cost segment, is present throughout the Spanish peninsular.