Business Irish

Wednesday 7 December 2016

DCC to buy Swedish firm Swea Energi for €22.7m

Independent.ie reporters

Published 20/12/2011 | 11:46

CONGLOMERATE DCC has agreed to buy Swedish firm Swea Energi for €22.7m with a further €6.6m payable depending on the company’s performance over the next 12 months.

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The company, which distributes heating oils and transport fuels to Swedish customers, is being bought from Lennart and Viviann Hansson.

Swea sells about 500 million litres of oil a year and employs 54 staff.

It recorded an operating profit of €5.5m last year.

“The acquisition of Swea is a significant expansion of DCC's oil distribution business in Scandinavia, building on our acquisition of Shell's oil distribution business in Denmark in 2009,'' said DCC's chief executive Tommy Breen.

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