Greenergy completes sale of Canadian service stations
Published on: Nov 13, 2023
A total of 241 retail gas and convenience locations which mostly operate under the Mobil brand have been sold to Global Fuels.
After announcing the sale of its retail business in Canada last July, Greenergy confirmed it has completed the transaction with Global Fuels. The deal includes 241 retail gas and convenience locations, which are predominantly Mobil-branded and located adjacent to Loblaw grocery stores.
Recently, Canada’s Competition Bureau concluded that the proposed transaction would likely substantially lessen competition in the sale of fuel to retail customers in Picton and Chatham, Ontario.
By the end of October, the Bureau announced that it had reached an agreement with Global and its affiliates, after the company agreed to assign motor fuel supply agreements in these markets to a buyer (or buyers) to be approved by the Commissioner of Competition.
“Following three years of significant growth and development, Greenergy is divesting its Canadian retail business to focus development on its renewable project pipeline. I would like to thank our retail team for their continued dedication and commitment to Greenergy over the last three years,” commented Christian Flach, CEO of Greenergy, when the company announced the sale.
Global Fuels operates a national network of Esso, Mobil, and Esso Cardlock branded fuel locations. Greenergy is an international supplier and distributor of transportation fuels, with fuel supply businesses in the UK, Ireland, and Canada.
