The Prax Group has announced that it has successfully completed the strategic acquisition of OIL! Tankstellen Gmbh, following the earlier announcement of an agreement in October 2023 to purchase the petrol retail business from Mabanaft Gmbh & Co KG. The acquisition of the Hamburg-based business marks the Prax Group’s entrance into four new retail markets, that include Germany, Austria, Denmark and Switzerland.
With a proven track record of integrating acquisitions and managing strategically important assets across the oil value chain, from upstream to downstream, the Prax Group is currently the fifth largest independent forecourt retailer in the United Kingdom selling fuel and non-fuel convenience products and services. The acquisition of OIL! expands the Group’s petrol retail portfolio to approximately 540 sites in Europe.
