DCC buys Benegas assets
DCC has agreed to buy BP’s liquefied petroleum gas distribution business in the Netherlands and Belgium in a deal worth €24.5 million.
The companies trade as Benegas in the region and supplies LPG to industrial, commercial and domestic customers. It employs 44 people.
Benegas’s adjusted gross tangible operating assets were approximately €15.4 million at the end of 2011, and it generated an adjusted operating profit of €4 million in the period.
The deal is expected to close later this year, provided it gets the go ahead from competition regulators in the Netherlands.
The move expands DCC’s in the Benelux region and comes only weeks after it announced it would buy BP’s LPG business in Britain. Earlier this month, DCC also said it would buy the Statoil Fuel and Retail LPG distribution businesses in Norway and Sweden.
“These acquisitions significantly increase the scale and geographic scope of DCC’s LPG business in Europe,” chief executive of DCC Tommy Breen said.