News
DCC to acquire Irish-owned fuel distributor
Trading in Ireland under the Emo brand, DCC’s Energy division notified the transaction to the Competition and Consumer Protection Commission (CCPC) on Friday 30th April. Currently in the preliminary investigation phase, third party submissions can be made until May 18.
Jones Oil, founded in 1984 as Jones Distribution, is an entirely Irish-owned company, headquartered in Dublin. It supplies homeheating oil and commercial fuels to the agricultural, commercial, industrial and marine sectors from 15 depots in the East, Midlands and North-West of the country.
Pat Nevin, who has held the position of CEO of Jones Oil for over 20 years, was instrumental in restructuring the business as an oil distributorship. For years the company was one of the largest Esso distributors in Ireland and covered the Midlands and North of the Republic with Suttons (covering the South/South West) and Three Rivers (covering the South East). In 2007, Pat Nevin oversaw the acquisition of Three Rivers.
With a fleet of 45 tankers and 150 staff members, Jones Oil had Euro 138 million in turnover in 2019 – an increase of 13.5pc compared to 2018.
DCC, a diversified holdings company specialising in distribution and marketing, is one of the biggest Irish companies by value (£6.25bn) and is a member of the FTSE 100 index of large companies.
The company has spent £3.3bn on 280 bolt-on acquisitions in the last 26 years since the company floated on the stock market and two-thirds of its profit growth comes from its mergers and acquisitions activity. Fuel distribution accounts for three quarters of DCC’s profits, with the remainder coming from healthcare and technology divisions.