Ireland’s Top Oil to buy Sirio for over $10 million

Top Oil, one of Ireland’s leading fuel distributor and importers, has agreed to buy Sirio Retail Operations in a deal worth more than €10 million, according to a company release.

Sirio’s 110 employees and 10 service stations, mainly located in the Leister region and have the capacity to sell 25 million liters of fuel a year, will be part of Top Oil’s retail network.

“This acquisition complements Top Oil’s strategy of developing our own integrated network of service stations whilst continuing to invest in our independently owned retailer network. This is a significant acquisition for our Top Oil business and will further build on our experience of managing retail services,” said Gerard Boylan, Group Chief Executive of Top Oil parent company Tedcastle Holdings.

The acquisition is expected to be completed by March 2016 subject to approval by the competition authorities.

Boylan added that the company “continues to seek out new opportunities and acquisitions throughout Ireland and Northern Ireland.”

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