Zeren now has 1,120 gas stations in Turkey - equivalent to c. 6.5% of $35bn national fuel market
UK expansion actively being explored by Zeren
ISTANBUL, Nov. 25, 2024 (GLOBE NEWSWIRE) -- Zeren Group has successfully completed its acquisition of Türkiye Petrolleri (TP Petrol Dagitim A.S.), one of Turkey's largest fuel retail chains, following the receipt of all necessary regulatory approvals.
This acquisition, combined with its previous acquisition of Alpet, strengthens Zeren Group's position as a leader in Turkey's energy sector and represents a consolidation of domestic energy companies. Zeren's new total network of 1,120 gas stations in the country is equivalent to around 6.5% of the national fuel market, which grew 7.9% to $35 billion of sales in 2023, according to energy regulator EPDK.
Zeren Group acquired Alpet, a prominent fuel distributor operating 259 stations across Turkey, along with six storage and filling facilities boasting a total capacity of 227,014 cubic meters. This was Zeren Group's latest foray into the wider energy sector. Türkiye Petrolleri, established in 1963, operates over 800 fuel stations across Turkey, along with nine filling facilities and a storage capacity of approximately 307,000 cubic meters.
Zeren Group's energy interests in the UK include Laval Energy, an energy consultancy firm established in London. Through this entity, Zeren aims to extend its success in Turkey and Europe to the UK.
The global energy landscape is undergoing rapid transformation, with a growing emphasis on sustainability and technological innovation and Zeren Group is committed to aligning with these macro trends by investing in advanced technologies and sustainable practices across its operations.
Looking ahead, Zeren Group is actively exploring opportunities to expand its operations and investments across Europe and into the UK, where it has already started to make investments in selected industries such as energy, food and beverage, hospitality and property.
Mustafa Yigit Zeren, Chairman and CEO of Zeren Group, said:
"Our acquisitions of Alpet and Türkiye Petrolleri mark significant milestones in Zeren Group's strategic growth, solidifying our position as a responsible distributor of energy solutions. As we look to the future, we are excited about the prospect of expanding our footprint across Europe and in particular the UK, where we recognize this country's dynamic energy market. Our presence in the UK is already firmly established via Laval Energy, an energy consultancy focused on project development, and we look forward to building out our capabilities."
