Economy

DCC makes first acquisition in US LPG market

DCC has entered the USA liquid petroleum gas market (LPG) for the first time with an £152m acquisition of a division of struggling energy firm NGL Energy Partners.

DCC said the transaction is expected to complete in March next year.

DCC was on the rise this morning after announcing plans to crack America by buying a leading producer of liquid petroleum gas for £152 million.

The acquisition represents the Dublin-based company's first move into the U.S. market and is another step in its strategy to build a global business.

Headquartered in Illinois, Retail West has been in business for over 70 years and now employs 390 people. While the market is attractive and growing, it is also fragmented with more than 4,000 distributors.

Donal Murphy, chief executive of DCC, said: "The acquisition of Retail West in the USA is an exciting development for DCC and is consistent with our ambition to build a substantial presence in the global LPG market".

DCC's chief executive Donal Murphy said the deal for Retail West is consistent with the company's ambition to build a substantial presence in the global LPG market.

"We very much look forward to welcoming the Retail West management and employees into the DCC Group and working together to grow and develop Retail West into the future".



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