Denis O’Brien-owned Topaz gets clearance for Esso acquisition

Combined companies will have €3.5bn turnover and 2,000 staff

Topaz was told to dispose of three Esso service stations as part of the regulatory approval

Topaz was told to dispose of three Esso service stations as part of the regulatory approval

 

The Denis O’Brien-owned fuel group Topaz Energy has been cleared by the Competition and Consumer Protection Commission to purchase Esso’s fuels and convenience business in Ireland.

This will extend Topaz’s network to 425 service stations, of which 162 will be company owned. It will also give the business a presence in each of the 32 counties on the island.

Esso Ireland operated 35 company-owned service stations and supplied product to 60 dealer-owned or dealer-operated forecourts. The deal had been agreed between Topaz and Exxon, Esso Ireland’s international parent company, last December.

Topaz said the Commission had directed that it dispose of three Esso service stations and its 50 per cent interest in the joint fuels terminal at Dublin Port. It declined to identify which stations must be sold.

The deal does not include ExxonMobil’s Upstream, Chemical and Lubricants businesses in Ireland.

Following the transaction, which will close on December 1st, Topaz will have a turnover of about €3.5 billion and employ 2,000 staff.

Topaz chief executive Emmet O’Neill said there was “real scope” to further develop the business “through innovations like our Re.Store convenience stores and our partnership with Rockets” in the years ahead.