DCC has agreed to buy oil distribution assets owned by Total in Britain, the Isle of Man and the Channel Islands in a deal worth €67 million.
The company is to buy the assets from Rontec Investments when it completes a deal it struck in the summer with Total.
The deal includes trade, fixed assets and stock of transport, commercial and home heating oil distribution business Total Butler, the share capital of Total's oil distribution and retail service station businesses on the Isle of Man and the Channel Islands, and contracts to supply transport fuels to about 300 dealer owned and operated retail service stations that are currently branded Total.
Some 550 people are employed at the business in question, which sold 1.5 billion litres of fuel last year.
"This acquisition represents a further significant step forward in DCC's growth strategy in oil distribution in Britain. It will considerably extend DCC Energy's presence in England and Wales and will also enhance our ability to serve customers throughout the market," said chief executive Tommy Breen.
Shares in DCC were flat on the Dublin market today, trading at €17.80.
