Topaz parent company acquires Esso Ireland’s fuels and c-store businesses
Completion of deal that will add 38 company owned Esso sites to 120 existing Topaz owned sites in Ireland, expected to occur in third quarter of 2015
12 December 2014 | 0
Topaz Energy Limited today (12 December) confirmed plans to extend its brand to the Esso fuels and convenience store businesses in Ireland, following the agreement of its parent company to purchase the shares of the Esso affiliate in Ireland.
Under the agreement, the Topaz parent company, Kendrick Investments Limited, will purchase the shares of Esso Ireland Limited and its wholly owned subsidiaries, Ireland ROC Limited and Esso Ireland Manufacturing Company Limited. The deal includes 38 company owned service stations and the right to supply around 60 service stations owned by independent dealers. ExxonMobil’s Upstream, Chemical and Lubricants businesses in Ireland are not affected by the sale.
Emmet O’Neill, incoming chief executive of Topaz said the deal underlines the commitment of Topaz to the Irish market. “We are an Irish company through and through and this deal demonstrates our commitment to supporting our position in this market. We look forward to welcoming Esso’s employees to the Topaz team,” he said.
Completion, subject to the relevant regulatory approvals, is expected to occur in the third quarter of 2015. Employees will continue to be employed by Esso Ireland and its subsidiary Ireland ROC and the companies will continue to operate under the new ownership structure.