Bangchak acquires Esso Thailand
Bangchak Corporation has acquired Esso Thailand. Bangchak Corporation is a leading energy conglomerate in Thailand. Esso Thailand is a prominent petroleum company. The deal is valued at 22.6 billion baht. Following this acquisition, all 700 Esso petrol stations in Thailand will now operate under the Bangchak brand.
Bangchak’s strategic move aims to expand its footprint in the petroleum industry. It will ultimately become the second-largest petroleum company in Thailand, with a substantial market share of 29.1%. Bangchak is still trailing behind PTT Public Company, which holds 39%.
The acquisition transfers a majority stake of 65.99% from ExxonMobil Asia Holdings to Bangchak Corporation. This move marks a significant shift in the industry landscape. To ensure a smooth transition, Bangchak Corporation plans to leverage the strong brand reputation and customer base of Esso Thailand while minimizing disruptions for both consumers and employees.
Bangchak now has more than 2200 gasoline stations including those from Esso
Bangchak’s petrol station network now comprises a total of 2,200 gasoline stations across the nation. This number includes the stations from Esso Thailand. Therefore, this expansion positions Bangchak as a formidable contender in the Thai petroleum market.
Furthermore, Bangchak Corporation is committed to sustainability, aiming to supply eco-friendly petroleum products to the newly-acquired stations. The company has already obtained quality certifications from the Department of Energy Business, reinforcing its dedication to offering environmentally conscious options to consumers.
In the coming years, Bangchak Corporation intends to enhance its refinery capacity significantly. This will solidify its position as the largest oil refinery company in Thailand. This strategic vision involves substantial investments in infrastructure and technological advancements, aimed at optimizing operations to meet the growing demand for petroleum products in the country.
The rebranding of all Esso petrol stations under the Bangchak brand reflects a harmonized vision and strategy for the combined entity. Above all, customers can expect the same level of quality and service they have come to know from Esso, now under the Bangchak name.
In conclusion, the acquisition of Esso Thailand by Bangchak Corporation marks a pivotal moment in the Thai petroleum industry. Bangchak’s strategic move emphasizes expansion, sustainability, and competitiveness in a dynamic market. As the rebranded stations begin operating under the Bangchak banner, consumers can look forward to the same excellence with a fresh identity.
