Topaz announces €33m investment plan

Canadian owner Couche-Tard hopes to create more than 200 jobs by end of 2017

Fuels group Topaz plans to invest €33 million in its retail network across Ireland in 2017 in a move that it expects will create more than 200 jobs. The programme, announced by Topaz managing director Niall Anderton and Jørn Madsen, executive vice-president for the company's owner Couche-Tard in central eastern Europe and Ireland, will focus on the development of the group's Re.Store forecourt brand.

Topaz has spent €36.1 million over the past two years on the Re.Store rollout along with the upgrade and rebrand of Esso network it acquired in 2015, and the development of two new Topaz stations in Dublin and Limerick.

Canadian group Couche-Tard acquired the then 444-strong network of Topaz filling stations for €258 million in cash in December 2015. It also took on board unquantified amount of debt estimated at close to €200 million in the deal.

The latest investment announcement was made at a the Topaz network dealer summit in Kilkenny on Tuesday.