Rubis snaps up Kenyan Gulf Energy in expansion spree

Rubis Énergie SAS plans to acquire Kenyan Gulf Energy Limited. The acquisition is subject to the approval of Kenyan regulatory and competition authorities.

The company has signed a share purchase agreement to acquire Gulf Energy Holdings Limited, the company that owns the oil marketing assets and businesses of Gulf Energy Limited.

Gulf Energy sold 470 000 CBM of petroleum products in 2018. It supplies retail customers through 46 petrol stations, commercial customers (notably supplying power plants and large industrial consumers), aviation fuels, LPG and lubricants.

To support its distribution activities, the company owns two fuel depots (Mombasa and Nairobi) along with a LPG storage and filling plant and a lubricants unit. The company has retail outlets in all major towns in Kenya, and modern terminals in Nairobi and Mombasa.

Earlier this year, Rubis completed the acquisition of KenolKobil after the Capital Markets Authority (CMA) and the Competition Authority of Kenya (CAK) approved the sale. The company gained 20% of the market share after the acquisition.

Rubis is a french multi-national company that was founded in 1990. It specialises in the storage, distribution and sale of petroleum, liquefied petroleum gas (LPG), food and chemical products. It is a market leader in France, Switzerland, Bermuda, Jamaica, Madagascar, Morocco, French Antilles-Guiana, and Senegal.