Virši-A to Rebrand Naftimpeks Gas Stations, Expanding Latvian Network

Energy resource trader AS Virši-A, operating under the “Virši” brand, plans to rebrand 19 gas stations currently operated by SIA Naftimpeks’ subsidiary, SIA Astarte-nafta, by the complete of 2026. The move is contingent upon approval from Latvia’s Competition Council (KP).

Expansion Plans and Timeline

According to Jānis Vība, head of Virši-A, the company aims to renovate and transform the acquired stations to align with the “Virši” brand standard. The KP is expected to make a decision on the long-term lease agreement by June 19, 2026. If approved, all 19 stations are slated to meet “Virši-A” standards by the beginning of 2027. Dienas Bizness reported this development on March 6, 2026.

Financial Details and Investment

Virši-A plans to finance the acquisition and renovation through a bank loan. Vita Čirjevska, Virši-A’s financial director, indicated that the investment will be “substantial but not disruptive.”

Competitive Landscape and Market Impact

The potential merger could impact competitive conditions in several local gasoline and diesel retail markets, specifically in areas surrounding Tukums, Jelgava, Pļaviņas, Preiļi, and along sections of the Daugavpils highway, Bauska highway, Jelgava highway, and Liepāja highway.

Virši-A’s Recent Performance

In 2025, Virši-A and its affiliated companies achieved a turnover of €398.091 million, a 4.6% increase compared to 2024. The company’s profit rose by 18.5% to €5.537 million. DELFI reported these financial results on February 27, 2026.

Company Leadership

Jānis Vība serves as the Chairman of the Board of Virši-A, responsible for the company’s strategic development, sales, and logistics. Other board members include Linda Prūse and Vita Čirjevska. Virši provides detailed information on its management team.

Shareholder Information

The largest shareholders of Virši-A include Jānis Riekstiņš (21%), Jānis Rušmanis (20.84%), Ruta Plūme (20.81%), Andris Priedītis (12.83%), and Ilgvars Zuzulis (12.79%). The company’s shares are listed on the “First North” alternative market of the Nasdaq Riga stock exchange.