DCC purchases oil distribution operation in €67m deal
DCC has agreed to buy oil distribution assets owned by Total in Britain in a deal worth €67m.
The company is to purchase the assets from Rontec Investments when it completes a deal it struck earlier this year with Total.
Included in the deal are the trade, fixed assets and stock of transport, commercial and home heating oil distribution business Total Butler, the share capital of Total's oil distribution and retail service station businesses on the Isle of Man and the Channel Islands.
It also includes contracts to supply transport fuels to about 300 dealer owned and operated retail service stations that are currently branded Total.
As many as 550 people are employed at the business in question. The operation sold 1.5 billion litres of fuel last year.
"This acquisition represents a further significant step forward in DCC's growth strategy in oil distribution in Britain. It will considerably extend DCC Energy's presence in England and Wales and will also enhance our ability to serve customers throughout the market," said chief executive Tommy Breen.