Topaz today announced it has completed its acquisition of Statoil.
Statoil's fuel distribution operation includes oil importation facilities in Dublin, Cork and Galway with 12 regional depots and 69 retail service stations.
Topaz already owns the Shell network of filling stations. It purchased the retail and commercial fuels and lubricants business of Shell in the Republic of Ireland and in Northern Ireland last year.
Following today's completion company turnover will be around €2 billion, Topaz said in a statement.
Combined with the Shell business, the Statoil deal gives Topaz direct control of more than 100 filling stations and distribution agreements with another 300 dealer-owned stations.
Topaz was created in 2005 to complete the Shell acquisition. It is owned by a consortium led by Ion Equity and chaired by Neil O'Leary, Ion Equity ceo.
Mr O'Leary, said the business was being bought as a long term investment. "We believe that this business has enormous potential. We have a vision for the business we wish to construct and we will work night and day with all our partners and stakeholders to turn that vision into a reality."
Topaz ceo Danny Murray said the deal would be good for Irish consumers: "For the first time in the history of the State an Irish owned company will have a leading position as a supplier of fuel to the market and the needs of Irish customers will be the premier driver of future strategy".