Newsletter 
  INSCRIPTION Inscription | ESPACE ANNONCEURS Publicité | CONTACT Contact |PLAN DU SITE Plan


Europétrole, le portail de l'industrie du pétrole
 
 accueil | actualité française | actualité internationale | recherche | interviews | focus | actualité par entreprise | actualité pétrole/gaz de schiste 
Partager :

  • DCC Energy agrees to acquire Esso's retail petrol station network in Norway
    édité le 13/02/2017 - Plus de news de "DCC" - Voir la fiche entreprise de "DCC"


DCC Energy agrees to acquire Esso's retail petrol station network in Norway
DCC plc, the international sales, marketing and business support services group, announces that DCC Energy has reached agreement with Esso Norge AS to acquire its retail petrol station network in Norway for a consideration of NOK 2.43 billion (c. £235 million). The network is the third largest in Norway with approximately 20%1 of retail volumes.

Esso's retail petrol station network in Norway

Esso's retail petrol station network in Norway comprises a national network of 142 company-operated sites (127 retail service stations and 15 unmanned stations) and has contracts to supply 108 Esso-branded dealer owned stations (together referred to as "Esso Retail Norway"). Esso Retail Norway sells c. 600 million litres of fuel annually. The majority of the stations are in the more populous south of the country and, of the 142 company-operated sites, 110 are held freehold, with 32 being leasehold.

As part of the transaction DCC Energy will enter into long term brand and supply agreements with Esso Norge AS.

Since December 2015, the convenience retail element of the company-operated sites has been operated by NorgesGruppen, the largest grocery retailer and wholesaler in Norway, under a long term agreement. NorgesGruppen have been rolling out their award-winning "Deli de Luca" retail concept across the network.

Esso Retail Norway will be integrated into DCC Energy's existing retail IT and operating infrastructure. This infrastructure was developed during 2015 to enable DCC Energy's integration of the Esso France retail business and has operated the business successfully since completion. Importantly, it was designed to be scalable and facilitate a 'hub and spoke' operating model, where key pricing, supply and back office functions can be operated remotely from an operations centre near Dublin, Ireland, enabling the effective and efficient management of the business in conjunction with local management teams. From completion DCC Energy will employ this model for Esso Retail Norway, in conjunction with the local management team who have driven the successful development of the network in recent years.

Strategic rationale

DCC Energy's strategy is to be a global leader in the sales and marketing of fuels and related products and provision of services to end consumers. DCC Energy has a strong market presence in the LPG, Retail & Fuelcard and Oil markets and is well positioned to continue to grow its business organically and through acquisition.

The acquisition of Esso Retail Norway is in line with this strategy and DCC Energy's ambition to build a substantial European retail petrol station business, leveraging its low-cost operating infrastructure and, where required, partnering with leading retail operators to manage a convenience retail offering. On completion of the acquisition, DCC Energy will operate c. 1,000 retail petrol stations across Europe and supply c. 2,000 dealer-owned stations.

Transaction details

The total consideration will be NOK 2.43 billion (c. £235 million), plus the value of stock in tank at the date of acquisition, all payable in cash on completion. The acquired business, which is substantially asset backed, is expected to generate a return on invested capital employed of approximately 15% in the first full year of ownership.

The transaction is subject to customary regulatory approvals and closing conditions, including competition clearance from the Norwegian Competition Authority, and is expected to complete in the final calendar quarter of 2017.

Tommy Breen, Chief Executive of DCC plc, said:

"The acquisition of Esso Retail Norway is another material step for DCC in building its retail petrol station business in Europe. From a modest position three years ago, DCC Energy will, following completion, operate over 1,000 retail petrol stations and is ambitious to continue this development. The acquisition is consistent with our aim to operate world-renowned retail fuel brands and be an excellent partner for oil majors."

About DCC plc

DCC plc is an international sales, marketing and business support services group headquartered in Dublin with operations in Britain, Continental Europe and Ireland. DCC has four divisions - DCC Energy, DCC Healthcare, DCC Technology and DCC Environmental. In its last financial year ended 31 March 2016, DCC generated revenue of £10.6 billion and operating profit of £300 million. The DCC Group currently employs approximately 10,500 people in 15 countries. DCC's shares are listed on the London Stock Exchange and are included in the FTSE All-Share Index and the FTSE 100 Index.

About DCC Energy

DCC Energy is the leading oil and liquefied petroleum gas ("LPG") sales, marketing and distribution business in Europe and DCC Energy's vision is to be a global leader in the sales, marketing and distribution of fuels and related products and the provision of services to energy consumers. DCC Energy operates through three distinct businesses: LPG, Oil and Retail & Fuel Card. In LPG, DCC Energy is market leader in Norway and Sweden, joint market leader in the Netherlands and strong number two in France, Britain and Ireland. DCC Energy is the market leader in oil distribution in Britain and Sweden and one of the leading players in Austria, Denmark and Ireland. In Retail & Fuel Card, DCC Energy is a leading operator of unmanned petrol stations in Europe with operations in France, Sweden, Denmark, Britain and Ireland and is the leading reseller of fuel cards in Britain.


Origine : Communiqué DCC

Voir la fiche entreprise de "DCC"



Les dernières news de "DCC"

 
 
 
Emploi-Pétrole
 
Rechercher une news



française internationale








 
Les dernières news internationales


>> Toute l'actualité internationale     >> RSS
 



Europétrole © 2003 - 2024