Puma Energy to acquire Ausfuel for US$648 million

Puma Energy to acquire Ausfuel for US$648 million

Puma Energy, a subsidiary of Dutch independent commodity trader Trafigura Beheer, has agreed to acquire Australian petrol station chain Ausfuel from private equity firm Archer Capital for US$648 million as part of plans to become Australia’s largest independent fuel retailer.

Ausfuel, which owns Gull, Choice and Peak service stations, will add 110 retail sites and 11 depots to Puma Energy’s existing Australian portfolio.

The move follows Puma Energy’s first investment in Australia, acquiring Neumann Petroleum’s retail portfolio of more than 120 service stations in Queensland and New South Wales.

Puma Energy Australia General Manager Ray Taylor said the two businesses will fit together perfectly.

“Puma Energy provides access to independent fuel supply and opportunities to help businesses like Ausfuel and Neumann grow their market share and expand into new regions and ultimately bring more competition to the Australian fuel market,” Taylor added.

Formed in 1997 in Central America, Puma Energy has since expanded its activities worldwide to include a retail network of more than 1,500 service stations and 5,000 employees. (February 4, 2013)

Vicky Denton

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