Kosmidis Family Sells X Convenience to BP Australia

Two months after the billion-dollar buyout of OTR was completed, a major industry player has bought up a rival chain of South Australian fuel and convenience store outlets.

SA-based fuel and convenience store chain X Convenience has been acquired by industry giant BP Australia, marking a significant expansion for the latter's network. The move follows BP's recent billion-dollar buyout of South Australian service station group OTR.

With over 50 sites across South Australia and Western Australia, the acquisition of X Convenience adds to BP's extensive network. While the financial details of the deal remain undisclosed, BP's President, Frédéric Baudry, expressed excitement about the acquisition, highlighting the opportunity to leverage X Convenience's local expertise and convenience offerings.

The transaction marks a notable shift in the industry, especially considering OTR's acquisition of all BP fuel outlets in South Australia a decade ago. BP's commitment to investing in South Australia's network expansion underscores its long-term strategy to enhance convenience and fuel offerings for customers.

According to The Advertiser, brothers Steve and Tom Kosmidis purchased their first gas station in 2006, and by 2013, they had expanded to six sites across Adelaide.

Over the past five years, Steve, who is 44, has implemented a more aggressive strategy. He has been opening multiple new sites each year, expanded into Perth in 2021, and grown the network to over 50 sites.

Greek Australian X Convenience director Steven Kosmidis said he was “excited for this next chapter of the business as BP continues to build the X Convenience network and deliver for our customers.”

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