Press Releases

December 10, 2019

Petronord Acquires Stake in Swedish Company Fundins Olja

Petronord continues to grow: Effective February 1, 2020, Petronord will acquire a significant stake in Fundins Olja AB. This investment is still subject to approval by the antitrust authorities. The Petronord group, which focuses on the end-consumer sales of energy products and the operation of commercial filling stations, is thus expanding its network alongside Germany and Austria also in Sweden.

Fundins Olja is a medium-sized mineral oil company based in Tranås, in the province of Jönköpings län, about 200 km southwest of Stockholm. The beginnings of the company, which currently employs seventeen people, date back over three family generations to the 1950s.

Fundins Olja’s core business is the sale of heating oil and diesel fuel as well as lubricants to end consumers and commercial customers. From its sites in Tranås, Jönköping, Västervik and Linköping, Fundins Olja supplies customers in Östergötland and parts of Småland. Seventeen automatic filling stations complete the portfolio. In addition to its own fuel card, the company offers cross-acceptances with other Swedish petrol station networks. 

Petronord's shares in Fundins Olja are held by the Swedish holding Petronord Scandinavia AB. Fundins Olja is managed by the shareholder Hans Fundin and the managing director Johan Gladewitz.  

Petronord is a subsidiary of Mabanaft, the trading division of Marquard & Bahls, Germany. Under the Petronord umbrella, retail companies in Germany, Austria and Sweden are active in the heating oil and diesel end-consumer business, lubricants distribution, the operation of service stations for commercial trucking fleets ("pool stations"), and the trading of bitumen, wood pellets, natural gas, and electricity. 

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