Latvia's Virši expands into Lithuania

The energy commodities trader and convenience store network AS VIRŠI-A (hereinafter – Virši) commences its operations in Lithuania – the first service station is already open near the town of Marijampole, on the A5 motorway. The 314 m2 facility is equipped with solar panels and will soon have charging stations installed for electric vehicles. 

The location near Marijampole is the first step in strategic development abroad, and this decision marks the Company’s further development plans in Lithuania. 

“Lithuania is a key market for our growth due to two primary factors. Firstly, the country has experienced robust economic expansion over the past decade. Secondly, its strategic geographic location positions it as a crucial transit hub for our private and corporate clients accessing other European markets. While entering a new market is inherently challenging, the successful launch of our operations is a testament to the dedication and collaboration of our team and partners,” comments Jānis Vība, CEO of Virši.

The location near Marijampole was strategically chosen

J. Vība believes the new service station will significantly enhance the region's infrastructure and improve travellers' comfort: “As one of the first service stations on the route from Poland to Lithuania, its large size and convenient access from the A5 motorway make it an ideal stopover. With nearly three decades of experience and as a leading Latvian market player, we are confident in Virši’s ability to offer a wide range of high-quality products and services to both existing and new Lithuanian customers, making the Lithuanian fuel market even more dynamic,” stated J. Vība.

The facility was constructed with a strong emphasis on both energy efficiency and customer comfort. Operating 24/7, it offers a wide selection of beverages, snacks, and automotive products carefully curated to meet the needs of Lithuanian consumers. To enhance the customer experience, a café is also available on-site. 

Rapid growth promotes further development

Virši is undertaking rapid growth in Latvia, with 80 service stations currently operational and an additional four under construction for opening later this year. Despite the challenging fuel product and energy market, Virši’s retail fuel sales volume increased by 9.5% in 2023, significantly outpacing the Latvian market's 1.0% increase, confirming the Company's growing market share in Latvia and its ambition to become a major player in the Lithuanian fuel market in the coming years.

Source: Press release (www.virsi.lv)
Photo: Virsi