Topaz completes Statoil acquisition

Topaz Energy Group has completed its deal acquire the retail and commercial business of Statoil in the Republic of Ireland from Statoil ASA.

In 2005, Topaz successfully purchased the retail and commercial fuels and lubricants business of Shell in the Republic of Ireland and in the North.

Following today’s completion, turnover at the company in a full year will be in the region of €2,000m.

Topaz, which is 100% owned by a consortium led by Ion Equity, was created in 2005 to complete the Shell acquisition. The company is chaired by Neil O’Leary, chief executive of Ion Equity.

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 which is the No 1 forecourt retailing brand in Ireland.