Irving Oil says it has signed agreements to acquire an Irish-based energy marketing and distribution company.
The Tedcastle group of companies operates under the brand name Top Oil and is a leading supplier of heating oil, petrol and diesel fuel in Ireland.
The news comes just two years after Irving Oil reached an agreement to buy Ireland’s sole refinery in the village of Whitegate.
“This is a great day for our company,” Irving Oil chairman Arthur Irving said in a statement. “We are proud to be doing business in Ireland and are looking forward to working with everyone at Top Oil.”
It’s an exciting day! We’re delighted to announce our company has signed agreements to acquire the Tedcastle group of companies, which operates under the brand name Top Oil. We’re looking forward to further growth in Europe. https://t.co/o0BjmJYLEq pic.twitter.com/US4ntTphqJ
— Irving Oil (@irvingoil) August 21, 2018
The Competition and Consumer Protection Commission in Ireland still has to approve the acquisition.
But when that happens, Irving Oil says it will continue full operation of the Top Oil business as usual, its branding will remain in place and the existing workforce will be maintained.
“We are looking forward to joining Irving Oil and continuing to grow and develop our business under its umbrella,” Top Oil CEO Gerald Boyland said in a statement. “We share a common commitment to our employees, customers and the wider community.”
Irving Oil says it will share more information about the agreements once the sale has closed.
