Varo Energy has acquired NWB Nord-und Westdeutsche Bunker, an inland and coastal supplier of marine gasoil, diesel and lubricants in Germany.
The acquisition from Bomin Bunker Holding bolsters Varo's strategy to grow its activities in the fuels value chain by building a network of refineries, storage tanks and distribution channels.
Once complete, the move will expand Varo's activities in Northern Germany with the addition of eight bunker locations in Hamburg, Cologne, Minden, Bremen, Passau, Brunsbüttel, Brake and Magdeburg as well as seven barges and two bunker stations.
The total added bunker capacity will be 3,000 m3, bringing total capacity to 21,000 m3.
Varo is a significant plater in the European inland waterways bunkering business in the Netherlands and Germany, operating under Reinplus Fiwado.
The transaction is expected to be complete during the first quarter of 2018.
Roger Brown, CEO of Varo, says: 'The assets we are acquiring from Bomin Bunker fit well into our growth strategy and enables us to geographically expand our presence in order to better serve our customers looking to buy bunker fuels or lubricants in Northern Germany.'
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