RIO DE JANEIRO, BRAZIL – Raízen, Shell’s brand licensee in Argentina and Brazil, today announced the completion of its acquisition of a 50% stake in Paraguayan fuel distributor Barcos & Rodados, thereby extending its reach to the region’s 3rd largest country.
With its forthcoming entry into Paraguay, the Brazilian company is taking a significant step towards the expansion and integration of its regional platform, taking its model, proven successful in Brazil and Argentina, to Paraguay.
Raízen, a global player in bioenergy and renewables, is also strengthening its position in the marketing & services segment, and after this transaction will operate a network of over 7,500 service stations in the region.
Barcos & Rodados is Paraguay’s leading fuel distributor. Its current network has over 340 stations, which will gradually start operating under the Shell sign. Raízen’s entry into Paraguay marks the return of Shell – the world’s most global and recognized fuel brand – to the Paraguayan market after 15 years away.
“We are very happy with the completion and closing of this operation that took many months of work. We are entering the Paraguayan market hand in hand with the current leaders and with a great investment and growth commitment,” said Raízen Argentina’s CEO Teófilo Lacroze.
“Raízen has grown exponentially in 10 years, with proven success models in Brazil and Argentina. Now it is our turn to reach Paraguay to continue adding pages to this story. We have an enormous challenge ahead of us, but we have the best resources to meet it successfully,” Lacroze added.
The company’s operation, which is shared equally by Barcos & Rodados and Raízen (50% Raízen, 50% B&R), will be managed by Raízen and will report to Raízen Argentina.