Topaz acquisition of Esso approved by CCPC
The Competition and Consumer Protection Commission has approved a major deal which will see Topaz takeover all of Esso Ireland's businesses across Ireland
16 October 2015 | 0
The fuel industry in Ireland looks a little different this morning following the decision late yesterday by the Competition and Consumer Protection Commission (CCPC) to approve Topaz’s purchase of Esso Ireland’s fuel and convenience business in Ireland.
Topaz chief executive Emmet O’Neill welcomed the news, which will see Topaz’s network extend to 425 service stations across the island of Ireland, 162 of which will be company owned. The combined entity will employ 2,000 people and have a turnover of circa €3.5bn, making it one of the 10 largest companies in Ireland.
“In just ten years, Topaz has successfully taken on and bought out the Irish retail businesses of three of the largest oil companies in the world,” O’Neill said, “to create a truly significant Irish business and a major Irish employer.
“This deal adds real substance to our operations here,” he added, “and we believe there is scope to develop this business further through innovations like our Re:Store convenience stores and through our partnership with Rockets in the years ahead.”
The deal will be formally closed on December 1st.