£40M investment over five years
Maxol, the family-owned oil business, have unveiled a new forecourt identity and five year business development plan by announcing a £40m investment in the expansion of its all-Ireland service station network.
In 2012, the company invested £12m upgrading and expanding its retail business, acquiring five new service stations and commencing the roll-out of Maxol’s vibrant new image across its network of 225 service stations. The Maxol Group has also put in place plans to invest a further £28m intensifying the expansion of its retail network and re-imaging programme, which it expects will generate additional annual sales of approx. £80m. This project will provide direct and indirect employment for about 400 people within the services and construction industries over the next five years.
“Maxol is owned by the McMullan Family and it has great faith in the future of Ireland, as demonstrated by the ambitious programme we have put in place”, said Group CEO, Tom Noonan.
“There is not a corner of the island that will not benefit from this new strategy. We believe we have seen off the worst of the recession, thanks to everyone associated with our organisation. Now it is time to move on and start preparing for the brighter future that undoubtedly lies ahead for all of us in Ireland. We would, of course, urge our politicians and public servants to do all they can to support our efforts by facilitating consumer demand and growth in the local economy. Our investment strategy, which is being supported by our recently appointed bankers, Bank of Ireland, will bring benefits not just to Maxol but to the wider communities in which we operate.”
An investment of £6m in the rejuvenation of the Maxol brand is at the heart of the new strategy, which sees the introduction of a striking new logo and brand identity.
Brian Donaldson, Chief Operating Officer of The Maxol Group, said: “We developed our new concept following an extensive brand audit. The outcome reflects our aspiration to be the leader in forecourt and convenience retailing across the island of Ireland. We believe that Maxol’s new image is much more vibrant and will allow the brand to relate much more effectively with all of our customers, both young and old. Our new positioning line ‘At the Heart of It’ resonates with us, as Maxol’s business is totally Ireland centric and our model has always been hugely supportive of the very many local communities where we are providing much needed facilities.”
The five new Maxol service stations purchased in 2012 are located in Holywood, Co. Down, Cork (two stations), Waterford and Galway. 2012 also saw the opening of Maxol’s first two unmanned service stations and three brand new Maxol super-stations. Some 50 stations now display the striking new Maxol image. With another 175 outlets set to receive this treatment and a number of new station acquisitions already in the pipeline, Maxol is cautiously confident about its own and Ireland’s future.