Topaz announce merger of Shell and Statoil in Ireland

Topaz Energy Group has announced its acquisition of the retail and commercial business of Statoil in the Republic of Ireland.

A year ago, Topaz successfully acquired the retail and commercial fuels and lubricants business of Shell in the Republic of Ireland and in the North and the company now plans to merge the two businesses. The consideration was not disclosed.

Topaz, which is 100% owned by a consortium led by Ion Equity, was created a year ago to complete the Shell acquisition.

The acquisition of Statoil’s fuel distribution business in Ireland includes oil importation facilities in Dublin, Cork and Galway with 12 regional depots and 69 retail service stations. Under the terms of the transaction, Topaz will also acquire worldwide rights to the Fareplay brand.

Topaz Chief Executive Danny Murray said: “We are delighted to acquire Statoil Ireland which is an excellently managed entity with a great reputation.

“Our intention is to work alongside management and staff to manage the business going forward and to build on its success to date in offering a premium quality service to its customers.

“The business has an excellent network of stakeholders including its customers, authorised distributors, dealers and joint venture partners. We look forward to working with our partners post-completion to the advantage of all stakeholders.”

Neil O’Leary, chairman of Topaz and chief executive of Ion Equity, confirmed that the business was being bought as a long-term investment.

“Our intention is to merge the business of Statoil with the current operations of Topaz to create one of the country’s leading fuels distribution businesses,” he said.

“For the first time in the history of the State an Irish-owned company will have a leading position as a supplier of fuel to the market and the needs of Irish customers will be the premier driver of future strategy.

“The combined company will be a multi-billion euro market leader and will be one of Ireland’s largest private businesses.”

The transaction will be notified for clearance to the Irish Competition Authority.