Petrol station giant BP Australia has acquired South Australian fuel and convenience retailer X Convenience from the Kosmidis family.
The deal expands BP’s network, with more than 50 X Convenience sites in South Australia and Western Australia.
According to The Advertiser, brothers Steve and Tom Kosmidis acquired their first petrol station in 2006, and by 2013 had six sites across Adelaide.
Over the past five years, younger brother Steve, 44, has adopted a more aggressive strategy – opening multiple new sites each year, expanding into Perth in 2021, and growing the network to more than 50 sites.
Company records show Tom, 48, stepped down as a director of several of the Andrash group of companies that operated the X Convenience business in 2017, leaving Steve as the sole director and driver of the company’s expansion.
The amount paid by BP to take over X Convenience was undisclosed.
BP Australia president Frédéric Baudry said the deal would enable the company to tap into X Convenience’s local knowledge and convenience expertise.
X Convenience director Steve said he was “excited for this next chapter of the business as BP continues to build the X Convenience network and delivering for our customers.”
Source: In Daily and The Advertiser.