Business service group DCC has bought English oil distributor Carlton Fuels for an initial €13.3 million wit the price possibly rising by a further €3.2 million.
Carlton which employs 118 people sells approximately 500 million litres of diesel and gas oil to commercial, transport and local government customers. The company operates depots in Liverpool, Sheffield and Immingham in the north of England.
Carlton's managing director, Paul Vian, and its operations director, Paul Williams, will join the management team of DCC Energy's UK oil distribution business.
DCC's chief executive Jim Flavin said the that DCC Energy is now the largest oil distributor in Britain and the Carlton acquisition will "further strengthen the excellent relationships DCC Energy has with all of the oil majors."
Carlton is expected to report an adjusted operating profit for its financial year ended June 30 th2006 of approximately €4.6 million on sales of approximately €404 million.