Mercator, a prominent Slovenian retailer under the Croatian Fortenova Group, has divested its fuel retail operations by selling M Energija, which manages the Maxen petrol station network, to Sunqar Resources, a UAE-based petroleum wholesaler. This transaction marks Mercator’s strategic exit from the fuel retail sector, emphasizing a shift towards its core retail business.
The sale of M Energija is not anticipated to significantly impact Mercator’s financial landscape, as this unit contributed less than 1% to the company’s total turnover. The financial specifics of the deal remain undisclosed; however, it aligns with broader corporate strategies focused on enhancing operational efficiencies within Mercator and Fortenova Group.
M Energija operates 21 self-service fuel stations throughout Slovenia and was notable for launching the country’s first self-service petrol stations in 2006 under the En Plus brand. Mercator acquired M Energija in 2011, shortly after its inception. Despite its innovative beginnings, the fuel division has faced financial difficulties in recent years.
In 2024, M Energija reported a net loss of approximately €709,000 on revenues of €13.2 million, following a loss of €588,000 in 2023 with revenues of €12.3 million. These figures indicate ongoing challenges within the fuel retail segment that likely influenced Mercator’s decision to divest.
Sunqar Resources is positioned across various energy sectors, including petroleum products and liquefied petroleum gas (LPG). The company caters to fuel retailers and LPG networks across Eastern Europe, including existing operations in Moldova, Romania, and Bulgaria. This acquisition allows Sunqar to expand its footprint in Slovenia and strengthen its market presence in Southeastern Europe.
Overall, this transaction illustrates a significant shift in Mercator’s strategic focus while providing Sunqar Resources an opportunity to enhance its operational capabilities within the region’s energy market. The implications of this sale may resonate through local fuel pricing dynamics and competitive landscapes as Sunqar integrates M Energija into its portfolio.
