DCC acquires French supplier Butagaz in €464m deal
The Irish distribution group, DCC, has completed the the acquisition of Butagaz, a French liquefied petroleum gas (LPG) supplier, in a deal worth €464m.
The deal, which is the biggest in DCC’s history, means that the company will now be consolidated from the start of September.
The original agreement for the acquisition was announced by DCC in May and shares rose by 11 percent the day after the announcement.
The acquisition of Butagaz marks DCC’s first entry into the French LPG market. Butagaz is the second-biggest operator in the sector there, with a 25 percent market share.
The acquisition will increase DCC’s earnings before interest and tax by approximately €74m.
The foray into the French LPG market has been partly driven by the scale of the French market, which is twice the size of the UK’s.
DCC operates across four separate divisions, DCC Energy, DCC Technology, DCC Healthcare and DCC Environmental.
The Group is headquartered in Dublin and employs over 10,200 people in 14 countries.
