DCC to acquire UK LPG business
11 January 2018
DCC to acquire the LPG business of Countrywide Farmers plc
DCC plc, the leading international sales, marketing and support services group, has agreed with Countrywide Farmers plc ("Countrywide") to acquire the trade and assets of its liquefied petroleum gas (LPG) distribution business in Britain ("the Business") for a total cash consideration of £28.75 million.
The Business supplies bulk and cylinder LPG to domestic, agricultural and commercial customers in Britain. The Business sells approximately 20,000 tonnes of LPG annually.
Completion of the acquisition is expected to take place before the end of DCC's financial year ending 31 March 2018.
For Reference:
Kevin Lucey, Head of Capital Markets
Mandy O'Sullivan, Director of Investor Relations & Corporate Finance
Telephone: +353 1 2799400
Email: investorrelations@dcc.ie
Web: www.dcc.ie
About DCC plc
DCC is a leading international sales, marketing and support services group with a clear focus on performance and growth. It operates through four divisions: LPG, Retail & Oil, Healthcare and Technology.
DCC is an ambitious and entrepreneurial business operating in 15 countries, supplying products and services used by millions of people every day throughout Europe. Building strong routes to market, driving for results, focusing on cash conversion and generating superior sustainable returns on capital employed enable the Group to reinvest in its business, creating value for its stakeholders.
Headquartered in Dublin, employing approximately 10,000 people, DCC's four divisions are:
· DCC LPG - a leading LPG sales and marketing business in Europe, with a developing business in the retailing of natural gas and electricity;
· DCC Retail & Oil - a leader in the sales, marketing and retailing of transport fuels and commercial fuels, heating oils and related products and services in Europe;
· DCC Healthcare - a leading healthcare business, providing products and services to healthcare providers and health and beauty brand owners; and
· DCC Technology - a leading European sales, marketing and services partner for global technology brands.
DCC plc is listed on the London Stock Exchange and is a constituent of the FTSE 100. In its financial year ended 31 March 2017, DCC generated revenue of £12.3 billion and operating profit of £345 million.
DCC has an excellent record, delivering compound annual growth of 14% in operating profit and generating an average return on capital employed of approximately 19% over 23 years as a public company.
About DCC LPG
DCC LPG is a leading LPG sales and marketing business in Europe, with a developing business in the retailing of natural gas and electricity. DCC LPG currently operates in nine countries across Europe and Asia and has leading market positions in France, Britain, Ireland, Norway, Sweden, the Netherlands and Hong Kong & Macau. On completion of the recently announced acquisitions of Retail West and TEGA, DCC LPG will also have substantial operations in the US and Germany.
This information is provided by RNS
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