DCC to expand European oil distribution business

DCC has agreed to buy Swea Energi Holding AB in Sweden.

The sales, marketing, distribution and business support services group, has reached conditional agreement to buy the entire issued share capital of Swea from Lennart and Viviann Hansson.

Swea is the leading distributor of heating oils and transport fuels to domestic, commercial and industrial customers in Sweden.

The acquisition is conditional on competition approval from the European Commission.

Tommy Breen, Chief Executive of DCC plc, said : "The acquisition of Swea is a significant expansion of DCC’s oil distribution business in Scandinavia, building on our acquisition of Shell’s oil distribution business in Denmark in 2009.

"With a strong local management team to be led by Lennart Hansson and the benefit of DCC’s experience in oil distribution, we look forward to growing Swea in the Swedish market over the coming years and continuing to develop a substantial position in oil distribution in Scandinavia."