Puma Energy, Australia's largest independent fuel operator, will secure a strong foothold into Australia's mining industry with the announcement that it will acquire Queensland's Central Combined Group (“CCG”).
CCG, which trades as Fuel Central and Lube Central, is central Queensland’s largest independent fuel marketer with a retail network of 18 service stations and five fuel depots throughout Mackay, Gladstone and Emerald.
The acquisition of CCG will increase Puma Energy's exposure to the growing mining industry fuel market in regional Queensland and increase its national service station footprint.
CCG Managing Director Andrew McDonald said its shareholders were pleased to have reached the agreement with Puma Energy. “We believe that Puma is the right company to take CCG to the next level. Our staff will have the opportunity to be part of something special as Puma Energy develops its business in Australia and beyond.”
Puma Energy's General Manager for Australia Ray Taylor said the purchase of CCG was a logical step in building Puma's national presence as an independent fuel retailer.
"CCG is a successful, home-grown business with deep roots in the Gladstone and Mackay regions, which are entry points for fuel into the central Queensland coal basins," Mr Taylor said.
"The wealth of CCG's local knowledge and experience, combined with Puma Energy's terminal investment in Mackay, cements our position in central Queensland, ready for future growth.
"Puma Energy has recently acquired Neumann Petroleum and Ausfuel, which gives us a national presence as an independent fuel supplier.
“Puma Energy has chosen partnerships with CCG, Ausfuel and Neumann Petroleum because they are strong businesses with the right culture and excellent teams.
"We believe CCG will be a good strategic fit for Puma Energy and our new partnerships."