Turkuaz Petrol invests $100 million in rebranding and expansion
Having just acquired its competitor Türkiye Petrolleri for $139 million, Turkish fuel retailer Turkuaz Petrol has announced it will invest $100 million in rebranding the recently-acquired petrol stations as well as opening new ones across Turkey. The aim is to bring all its petrol stations – 700 since the takeover of Türkiye Petrolleri – under a single brand.
“By the end of 2018, we aim to have 800 petrol stations across the whole of the country. In order to achieve this, we are budgeting $100 million for rebranding old stations and opening new ones”, the newspaper Daily Sabah quoted Cagdas Demirag, General Manager of both Turkuaz Petrol and Türkiye Petrolleri.
Both brands will be merged under the Türkiye Petrolleri brand, Demirag said. The aim of the merged company is to become one of the top three fuel distributors in Turkey – also by continuing to acquire competitors.
Image: Türkiye Petrolleri
| 06/06/2017 | Frank Jacobs