Two CQ servos sold as part of $425M national deal
THE Choice fuel station on Wandal Rd in South Rockhampton will continue to operate as normal, despite being part of a broader national acquisition of Puma Energy (Australia) by Chevron Australia Products.
According to RP Data, the Wandal Rd Choice service station was sold to Puma Energy (Australia) as part of a $10,805,001 multi-sale on May 22, along with at least 12 other services stations across Queensland.
However, The Morning Bulletin understands the service stations were purchased some time ago and the transaction was instead part of the acquisition of all shares and equity interests of Puma Energy (Australia) by Chevron, which completed on July 1 for $425 million.
The acquisition added more than 360 company-owned and retailer-owned service stations, a commercial and industrial fuels business, owned or leased seaboard import terminals and fuel distribution depots to Chevron’s Australian portfolio.
As part of the acquisition, the Wandal Rd Choice service station, as well as a service station at 22 Bowen St, Banana, and other entities previously under different company names but owned by Puma Energy (Australia) were transitioned into Chevron ownership.
According to a Chevron Australia Products spokesman, the Wandal Rd service station would operate under the Choice brand until brand licencing obligations were fulfilled.
“As we complete Chevron’s current brand licensing commitments in Australia, we look forward to extending the Caltex family of brands across Australia,” the spokesman said.
The spokesman said the service station continued to be managed by the same team.
It is understood there are no immediate plans to develop the Bowen St site in Banana.