Terra Petroleo, a division of Honduran business holding company Grupo Terra, has acquired Pacific Oil’s chain of service stations in Guatemala. The transaction includes a total of 32 service stations. The acquisition is in line with Terra Petroleo’s strategy to continue expanding in the region.
“These investments reflect the group’s commitment to continue investing in the development of the region through the creation of direct jobs and a strong social impact,” said Fredy Nasser Facussé, vice president of Terra Petroleo.
Terra Petroleo currently has in its portfolio a network of stations under the UNO brand which it operates in Honduras, El Salvador, Nicaragua, Costa Rica and Belize, Biomax in Colombia and the Shell brand, which is licensed in Guatemala, as well as the newly acquired Pacific Oil. Pacific Oil will be folded into Grupo Terra’s 230 service stations operated by UNO Guatemala.
In addition to service stations, Terra Petroleo has a wide range of products, including its own line of lubricants, UNO, which was launched in May 2012. The company said UNO lubricants sales in the region have reached a record of one million gallons in 2015.
“Our main goal is to compete with the best lubricants in the world with a product that meets and exceeds the quality standards at a very competitive price,” said Javier Madrid, regional manager UNO specialties.