Irving Oil to acquire Irish-based energy companies
New Brunswick-based Irving Oil today announced it has signed a deal with Tedcastle, which operates under the brand name Top Oil and is a leading supplier of home heating oil, petrol and diesel fuel in Ireland.
A release from Irving says Top Oil recently expanded operations into aviation fuel, and sells more than one billion litres of fuel every year to commercial and residential consumers in Ireland.
Irving Oil told Canadian Press the acquisition will allow it “to further expand its business across the Atlantic basin,” after an earlier purchase of Ireland’s sole refinery in Whitegate in 2016.
The Competition and Consumer Protection Commission in Ireland still has to approve the acquisition.
Irving Oil says it plans to continue the full operation of Top Oil and its assets if the deal is approved.