Varo Energy will acquire all the shares in the United Fuel Group, with 22 retail service stations in the Netherlands and a wholesale and lubricants business.
This follows the acquisition of the Brand Oil and Amigo networks earlier in 2017, bringing Varo’s retail footprint in the Netherlands to more than 140 retail service stations. At the same time the company has also strengthened its position in the wholesale market around its terminal network in the eastern part of the country.
United Feuls Group is the holding company of Diesel Oil Company and Private Label Oil Company.
Varo CEO Roger Brown says: ‘With this transaction, we broaden our company’s presence in the retail segment, in line with our strategy to grow as an integrated logistical service provider in North West Europe.
UFG directors Leon Derksen and Harald Kirkskothen add: ‘In a changing market like ours we are very pleased with this transaction to maintain and expand the company’s position. We believe that Varo will take the business of the company to the next level.’
The transaction is expected to close at the beginning of July 2017.