Olerex buys another Latvian petrol station chain

Estonian fuel seller Olerex's holding company Aqua Marina is buying up 29 Gotika Auto filling stations in Latvia.

This is the second petrol station chain that Olerex will acquire in Latvia in the last year. Olerex entered the Latvian fuel market in August 2021 with the purchase of KOOL filling stations.

"We have been well received by the Latvian market," said Antti Moppel, Member of the Board of Aqua Marina.

Stanislav Raspopov, a member of the board of Gotika Auto, said that the proceeds from the sale will be used to develop new projects in the fintech field.

While with the acquisition of KOOL Latvija, Olerex became the only Baltic fuel company with filling stations in all three Baltic countries, with the acquisition of Gotika Auto, the filling station chain significantly strengthened its position in Latvia.

Gotika Auto service stations are undergoing a renewal course and will be transferred to the KOOL brand, Gotika customer cards are valid at all KOOL stations under the same conditions.

The Latvian Competition Authority has approved the transaction without submitting additional conditions.