Home NEWS Science DCC eyes further expansion in the US and Asian fuel markets after maiden acquisitions this year

DCC eyes further expansion in the US and Asian fuel markets after maiden acquisitions this year

3 min read
0
9

Sponsored links

DCC is eyeing further fuel acquisitions in the US and Asia in the hope of winning market share in a fragmented market.

Donal Murphy, chief executive of the support services company, said the company was keen to ramp up its presence in the two markets, having concentrated on building its energy division in Europe for the last eight years.

Last week, the firm announced that it had entered the US fuel market with a £152m acquisition of Retail West, a liquid petroleum gas (LPG) firm that operates in 10 states.

In April, the Irish company made its first foray outside Europe by buying Shell’s LPG business in Hong Kong and Macau.

Mr Murphy said that it would be seeking to help Retail West expand its presence. “It is all about finding the next couple of opportunities,” he said. “We have the capital to go and do that and we think in a market with 4,000 players with a business like DCC we should be able to grow.”

The US LPG market is nine times the size of the French market, which is currently DCC’s largest.



Sponsored links
Source link

Load More Related Articles
Load More In Science
Comments are closed.

Check Also

How Healthy Are Small Retailers Heading Into The Holidays?

Publicly traded retailers like Best Buy, Wal-Mart and Amazon get many of the headlines for…