Circle K Alsulaiman expands reach via Mazaya Fuel acquisition

The company has acquired a majority stake to support its growth across Saudi Arabia with over 130 new retail locations.

Circle K Alsulaiman, a subsidiary of Alsulaiman Group and licensee of the convenience store brand in Saudi Arabia, has acquired a majority stake in fuel retailer Mazaya Fuel.

The company has a fuel retail network of over 130 locations across Saudi Arabia, marking a major step for Alsulaiman to expand Alimentation Couche-Tard's brand across the region. The company aims to operate over 500 Circle K service stations by 2030, an agreement achieved with the support of the Ministry of Energy.

Mazaya Fuel’s acquisition is still being studied for approval by regulatory authorities.

"We are enthusiastic about the opportunities this acquisition presents and are confident that integrating Mazaya Fuel will enable us to deliver outstanding value to our customers," stated Saud Alsulaiman, CEO of Alsulaiman Group.

Circle K and Mazaya Fuel’s fusion will result in a key development for the country’s growth plans for economic diversification. The Canadian brand’s landing is framed under Saudi Vision 2030 strategy, with Alsulaiman’s subsidiary planning a 700 million Saudi Riyal investment in the fuel station sector.