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Topaz Takeover Of Esso Gets Competition Approval

Published on Oct 15 2015 4:05 PM in Retail tagged: Featured Post / Topaz / Esso / Competition

Topaz Takeover Of Esso Gets Competition Approval

Forecourt retailer Topaz has received approval from the Competition and Consumer Protection Commission for its takeover of Esso Ireland's fuels and convenience business in Ireland.

The combined entity will see the Topaz store network extend to 425 sites around the country, and will have a turnover of circa €3.5 billion. 162 of these sites will be company owned.

“In just ten years, Topaz has successfully taken on and bought out the Irish retail businesses of three of the largest oil companies in the world - Shell, Statoil and now Esso - to create a truly significant and innovative Irish business and a major Irish employer," said Topaz chief executive Emmett O'Neill.

"This deal adds real substance to our operations here. It will bring our employee numbers in Ireland to 2,000 and we believe there is real scope to develop this business further through innovations like our Re.Store convenience stores and our partnership with Rockets in the years ahead."

The deal will formally close on 1 December.

© 2015 - Checkout Magazine by Stephen Wynne-Jones

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