Sold – Esso Ireland’s fuels business

Topaz. Emmet O'Neill. Photo Chris Bellew / Copyright Fennell Photography 2014

“This deal adds real substance to our operations here,” said Emmet O’Neill. “We believe there’s real scope to develop this business further through innovations like our Re.Store convenience stores and our partnership with Rockets in the years ahead.“

Following the acquisition by Topaz Investments, parent company of Topaz Energy,  the Topaz network will extend to 425 service stations, 162 of which will be company owned, giving the company a presence in all 32 counties on the island of Ireland.

Welcoming the decision by the Competition and Consumer Protection Commission (CCPC) to approve the purchase of Esso Ireland’s fuels and convenience business in Ireland, Emmet O’Neill, chief executive of Topaz Energy said:

“In just 10 years, Topaz has successfully taken on and bought out the Irish retail businesses of three of the largest oil companies in the world  – Shell, Statoil and now Esso – to create a truly significant and innovative Irish business and a major Irish employer.”

The deal will see Esso Ireland and its wholly owned subsidiaries, Ireland ROC and Esso Ireland Manufacturing Company acquired by Topaz.  The deal does not include ExxonMobil’s upstream, chemical and lubricants businesses in Ireland which are unaffected by this transaction.

The CCPC has directed that Topaz must dispose of three Esso service stations and also its interest in the Joint Fuels Terminal at Dublin Port.

Following the transaction, which is expected to close on 1st December, Topaz will become one of the top 10 largest companies in Ireland with a turnover of approximately €3.5 billion and employing 2,000 staff.

Topaz also has divisions in home heating, commercial and aviation fuel supply.

www.topaz.ie

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