Greenergy: The Driving Force Behind Amber’s Acquisition
Amber Petroleum – the independent fuel distributor and retailer with company and dealer owner forecourts across Ireland – has accepted an offer from Greenergy, the UK’s largest supplier of road fuels, to acquire 100% of its shares.
With a heritage in the Irish fuel industry heading back over 40 years, Amber is one of Munster’s largest oil companies. It is a known discount fuel retailer with 35 sites in Ireland, and a fuels distribution business and home heating depots.
Liam Fitzgerald, owner and Managing Director of Amber Petroleum, which was first established in Fermoy, said: “Having served our loyal customers for over 40 years Amber’s success has been based on strong relationships with customers, suppliers and staff and we know that Greenergy share these same values. I am confident that Amber will continue to grow its profile as part of the wider Greenergy organisation.”
Chris O’Callaghan, Head of Greenergy’s business in Ireland, added: “The acquisition of such a well-regarded business complements our existing Irish business, and enables us to enhance our fuel supply and retail offering to independent retailers and motorists, with a dedicated local team to support them.
National Fuel Supplier
Greenergy is the UK’s only national fuel supplier, providing customers with quality low cost, reliable fuels for over 25 years. The group has expanded internationally and now markets in Canada, Brazil and in Ireland where it already owns Inver Energy (“Inver”).
Inver, an independent fuel supplier and retailer based in Cork, marked Greenergy’s expansion into the Irish retail forecourt market in 2017. In Ireland, the Inver network of 60 forecourts includes both company owned and dealer operated service stations, and Greenergy has now expanded the Inver brand to independent forecourts in the UK and Canada.
“Greenergy and Inver already had a good working relationship and are very similar businesses. When Greenergy bought Inver it was the first step to enter the Irish market, and we have been looking to grow the Irish business further. Through Inver, Greenergy co-own a terminal in Foynes, and already benefits from having a recognisable name in the convenience and forecourt sector,” explained Chris.
The Amber acquisition builds on Greenergy’s recent retail investment in 230 retail sites in Canada, and expansion of its branded retail portfolio.
When asked about what the last few months have been like, Chris said, “We have always striven to provide our customers with best-in-class service. COVID-19 has made us think even more about how we can further support our customers and their communities.”
When Greenergy began almost 30 years ago, it was a bedroom start-up headquartered in the UK. Today, the group has become an international supplier and distributor of transportation fuels, employing more than 1,000 people globally. Last year, Greenergy supplied over 19 billion litres of fuel to a variety of customers.
Recognised for its fuel resilience, Greenergy supplies quality low cost fuel to a range of customers, including supermarkets, oil companies, fuel wholesalers, and retail and commercial customers. It sources these products from around the world and is able to move them efficiently to the regions it markets in. By maintaining flexibility and optionality, Greenergy can act quickly and ensure reliability of supply. With access to a strategic and distinct infrastructure, the team can manage its supply network from refinery to customers’ sites, keeping product costs to a minimum.
In the UK, Greenergy had entered the retail market in 2013, when it became a Branded Wholesaler for Esso. The combination of a major oil brand with Greenergy’s competitive and transparent pricing, supply reliability and customer responsiveness has made this a popular offer in the UK, and it has grown considerably since 2013.
In Europe, Greenergy is also the largest manufacturer of biodiesel from waste, owning and operating three biodiesel plants (two in the UK and one in Amsterdam), which convert waste cooking oils into biodiesel. With such capacity to manufacture biofuels responsibly, Greenergy can meet growing demand and improve the carbon savings of the quality fuels it supplies to customers. The inclusion of biofuels in road fuels remains the most effective way to cut carbon emissions for existing transport fuels.
Greenergy’s growth has come from its ability to evolve and meet changing consumer preferences.
“We’ve still got a lot to learn, but this is a very positive development, with this acquisition,” said Chris.
“Also, electric vehicles (EVs) and the development of the convenience offering – and who knows what other services forecourts can provide in the future – it makes for a very exciting time.
“Changes within the industry will be evolutionary, but at a much more accelerated pace than anticipated, especially in the next ten years as we move towards decarbonising society by 2050. We will definitely see an acceleration in that – the rates of change will be fast. There will be changes in auto-manufacture with more demand for hybrids and EVs, so demand for a wide range of products grows.
“In the area of technology, even the way we deal with customers, all of that will change – we need to ask, how is technology going to help? Whether a site is unmanned or has the convenience offering, technology will play a role.”