Stafford buys Clarke Oil as part of growth plan
The takeover is the second major deal in the space of a year for the Stafford Group, having acquired the businesses of Clashfern Holdings (which owns Campus Oil) last November for €27 million.
No price was given for the takeover of Clarke Oil, but it is believed to be lower than that paid for Clashfern. According to Stafford Holdings, Clarke distributes over 60 million litres of fuel and oil every year in Dublin, Wicklow and Wexford. Its most recent accounts show it had turnover of €37m in the year to end June 2003 and pre-tax profits of €432,639. Profits had fallen on the previous year. However, shareholders’ funds were up to €3.9m and the company employed more than 80 people.
