- Transaction includes bp’s ~300 Dutch retail sites, 15 EV charging hubs and the associated fleet business.
- Contributes to bp’s $20bn divestment programme and reset strategy to focus the downstream.
- Deal sees Catom expand its OK retail network to over 400 petrol stations across the Netherlands.
- Expected to complete by the end of 2025, subject to regulatory approvals.
bp has reached an agreement to sell its mobility & convenience and bp pulse businesses in the Netherlands to Catom. The sale is part of bp’s previously announced $20bn divestment programme and is expected to complete by the end of 2025, subject to regulatory approvals.
This is the latest example of bp’s strategy in action to reshape and high-grade its downstream businesses, focusing on leading integrated positions.
The transaction includes around 300 bp-owned or branded retail sites – some with on-site EV charging infrastructure – as well as 15 operational bp pulse EV charging hubs, eight under development and the associated Dutch fleet business.
Catom, founded in 1998 by experienced entrepreneurs, is a fast-growing player in the trade, distribution, and sale of fuels and lubricants in the Netherlands. With this acquisition, Catom expands its OK retail network to over 400 retail sites in strategic locations across the Netherlands. Catom was ultimately selected as the successful bidder as they presented the best overall offer, including future plans for the business and protection of terms and conditions of employees.
Emma Delaney, EVP customers & products at bp, said: 'We have built a high-quality retail and convenience business in the Netherlands but as we look to focus our downstream as part of a reset bp, we believe a new owner is best placed to take our Dutch business forward. We are working together with Catom to deliver a smooth and swift completion with minimal disruption on our people and customers.'
Jan Willem Westerhuis, CEO Catom & OK, said: 'With this acquisition, we’re on our way to becoming the number one brand in our industry in the Netherlands. We’re happy and excited to welcome all our new colleagues.'
In its 1Q25 results, bp updated its divestment guidance to $3-4bn for 2025, with $1.5bn signed or completed to that date. Further progress on divestment proceeds will be provided as part of 2Q25 results.
Source: bp
