• The transaction includes VARO Germany’s Retail business in north and west Germany. 

• New owner, CLASSIC Tankstellen GmbH & Co. KG, a subsidiary of Christian Lühmann GmbH, operates 184 retail sites in Germany, dealing in lubricants, gases, and energy retail. 

• Transaction is anticipated to close by year end with employees of VARO Energy Direct Retail GmbH to transfer to the new owner. 

October 29, 2024, Hamburg, Germany — VARO Energy (“VARO”) announces divestment of its German subsidiary, VARO Energy Direct Retail GmbH (“VARO Energy Direct Retail”), to CLASSIC Tankstellen GmbH & Co. KG (“Classic”).  

VARO Energy Direct Retail operates 16 public retail stations in north and west Germany supplying consumers and commercial customers with diesel, gasoline and liquefied petroleum gas (LPG). Pending the required merger clearance approvals, the transaction is anticipated to close by the end of this year. 

VARO and Classic have agreed to continue the current product supply to VARO Energy Direct Retail. VARO and Classic have further agreed to extend their partnership in the supply of conventional and sustainable fuels. All employees of VARO Energy Direct Retail will transfer to Classic ensuring continuity and stability within the business. The product offerings and contracts will remain the same. 

The decision to divest VARO Energy Direct Retail is in line with VARO’s efforts to streamline its portfolio and operations, demonstrating capital discipline and focus on areas of future growth potential. This transaction follows the August 2024 sale of VARO Energy Direct GmbH to Wilhelm Hoyer BV and completes the divestment of VARO’s consumer business in Germany. 

VARO’s other business activities in Germany, as well as it’s end-consumer business in Benelux and Switzerland, are unaffected by this sale. 

About VARO 

VARO Energy (“VARO”) is the partner of choice for customers in the energy transition by providing the sustainable and reliable energy solutions that they need to decarbonise. Engine 1 includes manufacturing, storage, distribution, marketing, and trading of conventional energies. Engine 2 activities are focused on sustainable energies and include biofuels, biogas, green hydrogen, emobility, and nature-based carbon removals. VARO plans to invest around $3.5 billion over the 2022-26 period, with two-thirds committed to sustainable energies. The company has a net zero target for scope 1, 2 and 3 by 2040. VARO, a private company owned by The Carlyle Group (66.66%) and Vitol (33.33%) is headquartered in Switzerland with a diversified presence in 26 countries. 

About CLASSIC TANKSTELLEN GMBH & CO. KG 

Founded in 1882 and now run by the sixth generation, Christian Lühmann GmbH is head of the Lühmann Group, which employs over 600 people. The group includes CLASSIC Schmierstoff GmbH & Co. KG, CLASSIC Tankstellen GmbH & Co. KG, Bernburger Mineralölvertrieb Lühmann GmbH & Co. KG, WEVAG GmbH & Co. KG, and has a majority stake in Autohaus Grünhagen GmbH & Co. KG. The company operates in sectors such as fuel stations, lubricants, winter chemicals, electricity, natural gas, propane, technical gases, car sharing, logistics, and car dealerships. Known primarily for its over 180 fuel stations in twelve federal states under the CLASSIC brand, the company is distinguished by its strong social commitment, support for the Hoya/Weser location, and partnership-based collaboration with all business partners, making it one of the most successful independent medium-sized traders in the national oil business.  

VARO Communications
Angela Nemeth
Phone: +41795129421
Email: [email protected]

Brunswick
Will Medvei and Nabhan Malik
Phone: +44 (0)20 7404 5959
Email: [email protected]