Oil business acquired by Irish conglomerate
Montag, 12 Oktober 2009
Yorkshire oil distributor Bayford Oil has been acquired by Irish business support services group DCC for £22.5m.
Bayford Oil, which is part of Wetherby-based Bayford Group, operates from 14 locations and has a fleet of 60 road tankers and around 155 employees. The acquisition by DCC, which is the largest conglomerate on the Irish stock exchange, will add 12% to the amount of oil DCC sells in Britain.
Jonathan Turner became managing director of Bayford Group in 2000 and has driven a period of expansion for the business.
Tommy Breen, DCC's chief executive, said the deal "represents a further step in DCC's continuing strategy of consolidating the fragmented oil distribution business in Britain".
Bayford Group has grown through a series of moves, which have included the acquisition of Dominion Oils from BP, gaining the UK rights to the Gulf brand and acquiring a number of fuel card operations to establish Bayford as the fastest growing fuel card business in the UK.
Bayford Oil's sales last year comprised 313m litres of transport and heating fuels sold to a broad range of domestic, commercial, agricultural and transport customers, and 155m litres of petrol and diesel sold to independent dealer owned petrol stations which trade under the Gulf brand.
DCC is made up of five divisions, including healthcare, food and beverage and environmental. It sells items ranging from champagne to peanuts and employs 7,200 people.