Maxol Plans To Invest €100M To Transform From Fuel To Convenience Retail Model
Maxol has announced its plans to invest €100 million to transform its services stations from a fuel-driven business to a food service and convenience-led model across the country.
“Maxol operates in an incredibly competitive market so we’re constantly looking at ways we can redesign and reshape our model to future proof our business, with the main aim of transforming from being a fuel provider to a full convenience retail fuel offering," explained Brian Donaldson, CEO of The Maxol Group.
"This hasn’t happened overnight; we have been investing heavily in the redevelopment of our service stations right across Ireland for the last number of years and the hard work is paying off, leading to strong trading performance."
In a statement Donaldson also announced details of the latest investment figures and immediate plans for the business, including the rollout of the new look in-store design, ROSA Coffee brand and expanding its food range and convenience offering through its new Maxol Deli and own label range.
2019 investments Breakdown
In 2019, the company said that it will invest €37 million in its network across the Republic.
So far this year the forecourt and convenience retailer completed a 'large redevelopment' in its business in Maxol Enniscorthy, in March.
The group said that Maxol Dolphins Barn in Dublin, is underway and Maxol Clarecastle, in Mayo, is scheduled for completion in August.
In Dublin, Maxol has completed redevelopments this year at Harold’s Cross, Turvey, M3 Mulhuddart, Ballycoolin, Mespil Road, Lucan and Adamstown, with plans for the new-look at Maxol Sandyford due to be completed in June 2019.
Latest Financial Figures
The latest financial figures for the company showed a 2017 turnover of €607 million and €13.6 million profit.
Donaldson confirmed that the company had had another successful year in 2018 with double digit growth to profits.
“Maxol remains as ambitious as ever and we are constantly looking at ways we can differentiate, diversify and evolve,” Donaldson concluded.
© 2019 Checkout – your source for the latest Irish retail news. Article by Donna Ahern. Click sign-up to subscribe to Checkout.