DCC acquires Pace Fuelcare
The deal is waiting for clearance from the UK Office of Fair Trading.
Successful sales negotiations have led to DCC tying up a deal to acquire Pace Fuelcare.
The agreement between the sales, marketing, distribution and business support services group and Pace - a British oil distribution business - is just waiting for clearance from the UK Office of Fair Trading.
Tommy Breen, chief executive of DCC - which employs around 8,000 people and makes 15 per cent of its profits from business support service activities - said the purchase will improve his company's oil distribution sector in Britain.
He added: "Pace has a particular strength in the distribution of transport fuels in southern England and will be complementary to DCC Energy's existing business."
Furthermore, Mr Breen pointed out the acquisition of the firm - which sold 515 million litres of fuel to independent retail petrol stations in the financial year ending September 2010 - will increase the market share of DCC's oil distribution company to 15 per cent.