The British oil company BP has sold all of its Dutch gas and charging stations to industry peer Catom, owner of the OK brand. The sale is expected to be completed by the end of this year.
Catom is taking over three hundred gas stations and fifteen charging stations. The more than one thousand Dutch employees will keep their jobs and work for a new employer, BP reports.
It has not been announced how long it will take for all BP gas stations to get the red OK corporate identity.
BP is selling its Dutch locations due to limited growth opportunities in the Netherlands. According to the oil company, large investments would be necessary. The full electricity grid is an extra reason for BP to withdraw from the Netherlands.
“With this acquisition, we are well on our way to becoming the number one brand in our sector in the Netherlands. We are happy and excited to welcome all our new colleagues,” says Catom CEO Jan Willem Westerhuis.
As a result of the acquisition, Catom is expanding the number of OK gas stations to more than four hundred in the Netherlands. BP chose Catom because of the attractive offer and the “future plans for the company and the guarantee of the terms of employment of employees”.