DCC buys British fuel firm for €28m

DCC has further strengthened its energy division by reaching agreement to buy Pace Fuelcare Ltd — one of the largest independent fuel distributors in Britain — for £23.4 million (€27.7m).

According to the Dublin-headquartered support services giant’s chief executive, Tommy Breen, the acquisition will boost DCC Energy’s share of the British fuel distribution business to about 15%.

It will be a purely cash transaction, but still requires clearance from Britain’s Office of Fair Trading.