Virši-A intends to lease 19 fuel stations from Naftimpeks, with the aim of rebranding them and expanding its service network in Latvia after receiving regulatory approval.
Latvian fuel retailer Virši-A has announced plans to enter into a long-term lease agreement for 19 fuel stations currently operated by Naftimpeks. This acquisition is contingent upon approval from the Competition Council of Latvia. Once the deal is finalized, Virši-A aims to gradually rebrand the stations under its own name and offer a full range of services, including fuel sales and additional amenities for customers. The specifics surrounding the financial aspects of the deal remain confidential according to the company's communications manager.
The proposed agreement could see Virši-A's network of fuel stations grow significantly. Currently operating 84 stations, the company anticipates increasing this number to 103, representing a growth of over 20% in its operational reach. This expansion is strategically significant as it would enhance the company's market coverage, revenue potential, and accessibility of services for consumers throughout Latvia, thus strengthening its competitive position in the fuel retail sector.
Moreover, Virši-A expressed gratitude towards the team at Astarte Nafta for their contributions over the past thirty years in the industry. The company is optimistic about collaborating with Naftimpeks, highlighting a shared commitment to sustainable practices and the long-term vision of enhancing service quality and availability for customers in Latvia.
