Topaz joins Ireland’s top ten after Esso acquisition
Forecourt and convenience retailer Topaz is now among Ireland’s ten largest companies following its acquisition of Esso.
The protracted deal, which was approved by the Competition and Consumer Protection Commission today, will see Topaz extend its network from 300 service stations to 425, 162 of which will be company owned.
The business, which was founded in 2005, will now have a presence in every county on the island of Ireland.
Topaz also has home heating, and commercial and aviation fuel supply businesses.
The deal brings the number of Topaz employees in Ireland to 2,000, while its total turnover is expected to reach €3.5 billion – making it one of the ten largest companies in the country.
It follows news earlier this month that the fuel retailer has secured an €11.4 million deal to bring popular American-style diner chain Eddie Rocket’s to 40 of its forecourts over the next seven years.
Emmet O’Neill, chief executive of Topaz Energy said: “In just ten years, Topaz has successfully taken on and bought out the Irish retail businesses of three of the largest oil companies in the world – Shell, Statoil and now Esso – to create a truly significant and innovative Irish business and a major Irish employer.
“This deal adds real substance to our operations here. It will bring our employee numbers in Ireland to 2,000 and we believe there is real scope to develop this business further through innovations like our Re.Store convenience stores and our partnership with Rockets in the years ahead.”
The deal will close formally on December 1.