Repsol acquires 45% of El Corte Inglés’ convenience business

The mobility company now owns 95% of Gespevesa, the joint venture that operates SuperCor Stop & Go locations across its fuel retail network.

El Corte Inglés has sold to Repsol 45% of its convenience business across the company’s service station network.

After this transaction, the Spanish mobility giant now owns 95% of Gespevesa, the joint venture that manages these locations, as reported by EFE news agency. The deal does not affect the partnership that both companies have maintained for the past two decades.

Currently, Repsol operates over 660 SuperCor Stop & Go stores, a number expected to grow up to 1,000 by 2028. Among its goals, the partnership between both companies seeks to establish itself as a leader in the convenience store sector in Spain by 2030.

The process started in December of last year, as revealed by Gespevesa’s year-end accounts for 2023. The documents state that operations that had been customary with El Corte Inglés will be maintained for one year from the date of signing the contract.