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Viva Energy acquires stake in Westside Petroleum

Petrol and diesel distributor, Viva Energy, completed the purchase of a non-controlling stake in Westside Petroleum it announced last week.

In May of this year, the company entered into an agreement to acquire a 50 per cent interest in retail chain Westside Petroleum.

The stake was approved after regulatory and contractual conditions were satisfied.

Westside Petroleum operates more than 50 service stations across NSW, Victoria and Queensland.

The sites are run under a variety of operating models with a mix of Shell and Westside Petroleum branding on display.

Westside Petroleum will continue to operate independently  while Viva Energy maintains representation on its board.

Scott Wyatt, Viva Energy Chief Executive Officer said he was excited by the opportunities the strategic investment offered.

“This deal with Westside Petroleum is an important acquisition to support our retail growth plans, and will strengthen the Shell Card offering,” he said.

Westside Petroleum Managing Director Terry Makhlouf will remain in his role alongside Chief Executive Officer Patrick Riad.

In a joint statement the pair confirmed they will continue to roll out new retail sites in line with Westside’s current growth strategy.

“We are excited to enter into partnership with Viva Energy which will enhance Westside Petroleum’s ability to continue to provide quality fuel products to the retail market and also deliver growth from its current high quality network and pipeline of future service station sites,” said Makhlouf and Riad.

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