Business services group DCC has agreed a €51.3m deal with BP to buy its liquefied petroleum gas distribution business in the UK.
The deal is expected to close by the end of September.
The business supplies a wide range of industrial, commercial and domestic customers with an annual volume of about 87,000 tonnes of bulk and cylinder LPG.
It has a workforce of 116 and operates from a network of 13 locations throughout the UK.
DCC said the footprint of the business is highly complementary to Flogas, DCC's existing LPG business in the UK.
''We have a successful track record in acquiring energy distribution businesses from the oil majors as they exit downsteam activities and this transaction will enhance DCC's position as the leading oil and LPG sales, marketing and distribution businesses in Britain," commented the company's chief executive Tommy Breen.
