Circle K Alsulaiman Acquires Majority Stake in Mazaya Fuel
In a bold move, Circle K Alsulaiman, a subsidiary of Alsulaiman Group, has announced the signing of an agreement to acquire a majority stake in Mazaya Fuel, a well-known chain of over 130 fuel stations spread across Saudi Arabia. This strategic acquisition marks a significant milestone in Circle K Alsulaiman’s ambitious expansion plans, solidifying its dedication to revolutionizing the fuel retail sector in the Kingdom.
Partnership for Growth and Innovation
Last May, Alsulaiman Group inked a deal with Circle K to establish a network of Circle K-branded fuel stations under the patronage of the Ministry of Energy, aligning with the Ministry’s efforts to elevate service center standards and attract global investments in line with Saudi Vision 2030.
Future Expansion Plans
With a vision to grow to over 500 Circle K stations by 2030, Circle K Alsulaiman is set to inject more than 700 million Saudi Riyals into the fuel station sector. This investment not only aims to expand Circle K’s reach but also to create job opportunities and stimulate the local economy.
Rebranding for Enhanced Service
The acquisition of Mazaya Fuel, pending regulatory approvals, signifies a major breakthrough for Circle K Alsulaiman. Renowned for its reliability and stellar customer service, Mazaya Fuel’s stations will undergo a gradual rebranding to Circle K, elevating convenience and service standards for customers nationwide.
Excitement for Future Prospects
Speaking on the acquisition, Saud Alsulaiman, CEO of Alsulaiman Group, expressed, “The acquisition of Mazaya Fuel marks a significant stride for Circle K Alsulaiman, showcasing our dedication to growth and innovation in the Saudi fuel station sector. We are eager about the possibilities this acquisition brings and are confident that integrating Mazaya Fuel will enable us to deliver exceptional value to our customers.”
Similarly, Mohammed Alamri, Founder of Mazaya Fuel, added, “We are thrilled to collaborate with Circle K Alsulaiman and contribute to the ongoing success of Circle K in Saudi Arabia. By combining our established network with Circle K’s global standards and Alsulaiman Group’s resources, we are poised to establish a robust presence in the fuel retail market, both in urban centers and along regional highways. This partnership positions us for remarkable growth in the sector.”
Driving Economic Diversification
The collective strengths of Circle K Alsulaiman and Mazaya Fuel pave the way for substantial growth in Saudi Arabia’s fuel station sector. This acquisition underscores Circle K Alsulaiman’s dedication to delivering unmatched convenience, top-notch products, and exceptional service, in line with the economic diversification objectives outlined in Saudi Vision 2030.
