DCC PLC
07 July 2006
DCC Acquires Another Oil Distribution Business in Britain
DCC plc, the business support services group, has acquired Carlton Fuels Limited
('Carlton'), a north of England based oil distribution business, for an initial
cash consideration of €13.3 million (Stg£9.2 million), excluding net debt
acquired. Carlton's net debt averaged €4.7 million (Stg£3.3 million) over the
12 months to 31 May 2006. Deferred cash consideration of up to €3.2 million
(Stg£2.2 million) may be paid over the next five years based on the
achievement of certain profit targets.
Carlton is expected to report an adjusted operating profit for its financial
year ended 30 June 2006 of approximately €4.6 million (Stg£3.2 million) on sales
of approximately €404 million (Stg£280 million). Carlton's Managing Director,
Paul Vian, and its Operations Director, Paul Williams, will join the management
team of DCC Energy's UK oil distribution business. Carlton has 118 employees.
Carlton sells approximately 500 million litres of fuel per annum, principally
diesel and gas oil, to a range of commercial, transport and local government
customers and operates from 6 depots located in the Liverpool, Sheffield and
Immingham areas. Carlton's operations in these areas will be integrated with
DCC Energy's existing oil distribution business in Britain.
Jim Flavin, Chief Executive/Deputy Chairman of DCC plc said today:
'Carlton is a well managed business which has grown strongly in
recent years and the business will integrate well with DCC's existing
oil distribution operations in Britain. DCC Energy is now the largest
oil distributor in Britain and the Carlton acquisition will further
strengthen the excellent relationships DCC Energy has with all of the
oil majors.'
For reference:
Jim Flavin, Chief Executive/Deputy Chairman
Colman O'Keeffe, Deputy Managing Director, DCC Energy
Conor Murphy, Investor Relations Manager
Telephone: + 353 1 2799400
Email: investorrelations@dcc.ie
Web: www.dcc.ie
This information is provided by RNS
The company news service from the London Stock Exchange
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