Valora becomes Swiss convenience market leader with avec

Valora is significantly expanding its cooperation with Oel-Pool. The foodvenience provider is taking over 71 additional shops from the service station operator and will be converting them into modern avec stores. This will not only significantly increase Valoras presence in the convenience business at service stations, but will also create the largest network of convenience outlets in Switzerland with around 370 avec stores by the end of 2023.

Thanks to the strengthened cooperation with Oel-Pool, Switzerlands leading service station operator, Valora has reached a further milestone in its growth-oriented food strategy. With the expansion of its convenience presence at service stations, the higher-margin share of food in Valoras overall category mix continues to grow.

The gradual takeover of the 71 service station shops from Oel-Pool is expected to take place from April 2023. The shops are located at BP service stations in Western, North-western and Eastern Switzerland. They are to be gradually converted into avec stores with a comprehensive range of convenience products. All locations are secured over the long term.

A collaboration with Oel-Pools fuel company Moveri and the acquisition of 39 service station shops (primarily operated under the brand APERTO) was announced back in summer 2021. Most of these stores were transferred to the avec sales outlet network between January and May 2022. Thanks to the expanded cooperation with Oel-Pool, Valora will increase its presence at Swiss service stations to over 170 stores by the end of 2023, including Tamoil locations. The foodvenience provider expects to achieve sales of over CHF 300 million per year in the service station business in the medium term.

Thanks to the cooperation with Oel-Pool / Moveri and the ongoing conversion of k kiosk sales outlets into avec stores, the entire avec network in Switzerland will grow to around 370 sales outlets by the end of 2023. This makes the avec brand, which was modernised in summer 2018, the convenience provider with the highest number of sales outlets in Switzerland.

Service station shops are an ideal complement to the foodvenience business

The expanded cooperation with Oel-Pool confirms our belief that the foodvenience business will remain attractive in the future, says Michael Mueller, CEO of the Valora Group. In addition to locations in city centres, transport hubs such as train stations and airports, and shopping centres, service station shops fit perfectly into our store portfolio. Moreover, the avec brand and the food share in our business will be further strengthened.

Valora has been active in the service station business in Switzerland for around 20 years. In addition to Tamoil shops with a strong presence in French-speaking Switzerland and the greater Zurich area, Valora was also able to gradually expand its portfolio of locations in German-speaking Switzerland. The majority of customers shop at service stations without refuelling. They come by because of the good location, long opening hours and the convenience range.

The takeover of the 71 service station shops from Oel-Pool still requires the approval of the Swiss Competition Commission (WEKO).

Picture credits: Stefano Schröter | Oel-Pool

This ad hoc announcement is available online at www.valora.com/newsroom.

About Valora
Each and every day, around 15,000 employees in the Valora network work to brighten up their customers journey with a comprehensive foodvenience offering nearby, quick, convenient and fresh. The around 2,700 small-scale points of sale of Valora are located at highly frequented locations in Switzerland, Germany, Austria, Luxembourg and the Netherlands. The company includes, among others, k kiosk, Brezelkönig, BackWerk, Ditsch, Press & Books, avec, Caffè Spettacolo and the popular own brand ok. as well as a continuously growing range of digital services. Valora is also one of the worlds leading producers of pretzels and benefits from a well-integrated value chain in the area of baked goods. In 2021, Valora generated annual external sales of CHF 2.2 billion. The Groups registered office is in Muttenz, Switzerland. The registered shares of Valora Holding AG (VALN) are traded on SIX Swiss Exchange AG.

More information is available at www.valora.com.

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Disclaimer 
This document contains forward-looking statements referring to topics that are not based on historical fact and cannot otherwise be proven by referring to past events. Forward-looking statements are based on our current expectations and assumptions and are subject to uncertainties as well as known and unknown risks. These uncertainties and risks, along with other factors, may mean that actual future events and developments, including Valoras results, financial position and development, significantly deviate from what was explicitly or implicitly stated or assumed in the forward-looking statements. The information, opinions and forward-looking statements contained in this document only apply at the time of publication. Valora is not obligated to review or update forward-looking statements in light of new information or future developments or for any other reasons. This media release is not intended as a recommendation to buy securities.