DCC acquires Total’s British oil distribution

DCC has reached agreement to acquire the British oil distribution interests of French oil giant, Total in a €67 million cash deal.

The deal — which DCC’s chief executive, Tommy Breen has described as “a further significant step” in the group’s growth strategy in oil distribution in Britain — covers Total’s distribution network across mainland Britain, the Isle of Man and the Channel Islands and will add around 550 people to the DCC group’s employee base.

The assets are being bought from UK-based Rontec Investments — which reached agreement in June to buy the assets from Total, as part of a larger transaction. The DCC buy is now conditional on that deal between Rontec and Total being completed.