January 23, 2013 - Competition and supply in Australia’s fuel market will receive a much-needed boost with the announcement today that Neumann Petroleum, owner of Matilda and Neumann service stations, is to be acquired by Puma Energy. The agreement is subject to regulatory approvals and procedural consents.
Under the deal, which represents Puma Energy’s first investment in Australia, Puma will acquire Neumann Petroleum’s retail portfolio of more than 120 service stations in Queensland and New South Wales, along with the company’s bulk seaboard fuel terminal at Eagle Farm in Brisbane.
Independently owned mid and downstream oil company Puma Energy also plans to develop a new petroleum import terminal at the Port of Mackay. The investments will see existing Neumann Petroleum staff retained and jobs created in Mackay.
Puma Energy’s global CEO Pierre Eladari said that the company was committing significant funds to develop Neumann Petroleum’s Australian businesses. “We were attracted to Neumann Petroleum because of the company’s strong performance and outstanding portfolio of retail and terminal assets. Puma Energy has grown rapidly in recent years through organic growth and by buying downstream assets from ExxonMobil, BP and Chevron. Each time we have retained local staff and grown the businesses,” said Mr Eladari.
Neumann Associate Companies’ CEO Mike Carroll said the Board was pleased to have reached the agreement with Puma Energy on the sale of Neumann Petroleum. “We believe that Puma is the right company to take Neumann Petroleum and Matilda to the next level. We are also pleased that our staff will be able to participate in this growth under the ownership of a global company that has a demonstrated commitment to the Australian market and our people,” said
“Australia has a strong economy, a growing retail and mining-driven fuel market with enormous potential, and this is an ideal environment in which to continue our global growth efforts,” said Ray Taylor, Puma Energy General Manager for Australia. “The acquisition is an important step in the company’s strategy of becoming a significant, independent player in the Australian market and will bring more robust competition to the country’s petroleum market.”
The petroleum import facility within the Port of Mackay will be in addition to the acquired Neumann Petroleum assets in the Port of Mackay and will provide an additional 57 megalitres (57,000 m3) of storage; further establishing the Group’s ability to provide secure fuel supply within the region. This will add to Puma Energy’s network, which currently includes more than 45 bulk fuel terminals worldwide.
Puma Energy is already active in North East Europe, the Middle East, Africa, Latin America, the Caribbean and Asia including Indonesia, Vietnam, Singapore and Malaysia. Formed in 1997 in Central America, Puma Energy has since expanded its activities worldwide to include a retail network of more than 1,300 service stations and 5,000 employees.