17 Feb 2011 07:00

DCC to acquire Pace Fuelcare Ltd in Britain
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DCC plc, the sales, marketing, distribution and business support services group, has reached conditional agreement to acquire the entire issued share capital of Pace Fuelcare Ltd ("Pace"), a British oil distribution business, from MRH (GB) Ltd. The acquisition is subject, inter alia, to clearance from the UK Office of Fair Trading.
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In its financial year ended 26 September 2010 Pace sold 515 million litres of fuel to independent retail petrol stations and a broad range of commercial, industrial, agricultural and domestic customers. With approximately 240 employees, Pace operates from 20 locations across southern England and has a fleet of 86 road tankers.
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The consideration payable for Pace, on a cash free/debt free basis, is €27.7 million (Stg£23.4 million). The consideration is payable in cash.
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Tommy Breen, Chief Executive of DCC plc, said today:
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"The acquisition of Pace Fuelcare will further enhance DCC Energy's oil distribution business in Britain, bringing its market share to approximately 15%. Pace has a particular strength in the distribution of transport fuels in southern England and will be complementary to DCC Energy's existing business."
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For Reference:
Tommy Breen, Chief Executive, DCC plc
Donal Murphy, Managing Director, DCC Energy
Redmond McEvoy, Investor Relations Manager
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Telephone: +353 1 2799400
Email: investorrelations@dcc.ie
Web:Â www.dcc.ie