Topaz Energy Group, Ireland’s largest convenience and fuel retailer, is being taken over by the Canadian convenience and fuel retailing giant Alimentation Couche-Tard, in a deal believed to worth about 450m (£324m).
The two companies have signed an agreement that will lead to the acquisition by the Canadian company of Topaz Energy Group, together with linked companies Resource Property Investment Fund and the recently-acquired Esso Ireland. The transaction is expected to close in spring 2016, subject to the regulatory approvals and closing conditions.
Couche-Tard is one of the world’s biggest convenience and fuel retail businesses, with about 15,000 sites in North America (US and Canada), Europe (Norway, Sweden, Denmark, Poland, the Baltics and Russia), Asia and the Middle East. Approximately 100,000 people are employed in its network across the world.
The Topaz network comprises 464 service stations in the island of Ireland, 162 of which are company owned, a commercial fuels operation with more than 30 depots, and employs over 2,000 people.
Topaz chairman John Callaghan said: "We are delighted to have agreed this transaction with Couche-Tard, which is recognised as a world leader in the fuel and convenience store industry."