Dive Brief:
- BP has agreed to sell its convenience retail and electric vehicle charging businesses in Austria to Swiss energy company Volenergy AG, according to a Monday announcement.
- The deal includes BP’s 250 branded retail sites in Austria, 115 of which are company owned and franchise operated, per the announcement. The other 135 use different models, including dealer owned, dealer operated or unstaffed company-owned sites.
- BP’s latest divestiture is part of the company’s ongoing portfolio review, which has impacted its global convenience retail network through team restructurings and divestitures in recent years.
Dive Insight:
The deal, expected to close at the end of 2026, comes over a year after BP announced it intended to sell its Austrian c-store network, following the divestments of its convenience businesses in the Netherlands in 2025, Turkey in 2024 and Switzerland in 2022.
BP emphasized in its announcement on Monday that the sale supports its plan “to become a simpler, stronger and more valuable company, and reflects its continued focus on disciplined capital allocation.”
“By concentrating our capital on the assets and markets where bp can be most competitive and best serve customers, we are strengthening our balance sheet and creating a stronger downstream portfolio,” Richard Harding, interim executive vice president of downstream at BP, said in the announcement.
The 250 retail sites will continue to operate under the BP banner through a brand license agreement, according to the announcement.
The buyer, Volenergy AG, already operates the largest network of fuel stations in Switzerland, with over 730 locations, per the announcement. The company previously acquired BP’s Swiss retail network four years ago.
“Bp has built a strong mobility and convenience business in Austria over many decades and we believe volenergy AG is well placed to take it forward,” Melanie Milchram-Pinter, head of country Austria at BP, said in the announcement. “Our priority now is to support our people, keep serving customers safely and reliably, and manage the transition well.”
