Singapore-based Puma Energy Holdings acquired Pakistans Admore Gas Pvt. and plans to rebrand its 470 retail outlets to market lubricants, the company told Lube Report Asia.
Over time, the [Admore] sites will be rebranded and will offer Puma-branded lubricants along with allied products including coolants and brake fluids, said a company spokesman. The fuels, oil products, and lubricants distribution company said the outlets will market its automotive and motorcycle oils as well as its industrial and marine lubricants.
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This platform provides an ideal base from which to offer lubricant solutions in addition to fuels and other products, he added. The company declined to disclose its recent sales volumes.
Admore Gas, a member company of Pakistans Chishti Group conglomerate, retails refined petroleum products and lubricants throughout Pakistan.
Puma has more than 3,000 retail outlets in 48 countries. The company sources and supplies oil products such as fuel oil, gasoline, diesel, jet, bitumen and lubricants.
Established in Central America in 1997, Puma Energy is headquartered in Singapore and has regional hubs in Johannesburg, South Africa; San Juan, Puerto Rico; Brisbane, Australia, and Tallinn, Estonia.
According to the World Bank, Pakistans gross domestic product growth in 2017 is expected to climb to 5.2 percent, the highest in nine years, and will continue to accelerate, reaching 5.5 percent in 2018 and 5.8 percent in 2019.