Intervias Group has reached an agreement with Esso Italiana S.R.L., an ExxonMobil company, to acquire 1,176 Esso petrol stations in Italy.
According to a company release, the acquisition is in line with Intervias Group's retail network expansion. The Group will retain the Esso brand.
“The Esso brand has a leading presence in Italy and the existing network represents an excellent strategic fit for our business, allowing us to expand our network and reach even more customers with a strong fuel, retail convenience and food-to-go proposition," said Mohsin Issa, Founder and Co-CEO, Intervias Group.
The acquisition is subject to competition authority approval and may take at least five months to complete.
United Kingdom-based Intervias Group, a merger between Euro Garages and European Forecourt Retail Group, operates approximately 1,550 petrol stations.