DCC, the business services and support group, has reached agreement with BP to acquire its LPG distribution business in the Netherlands for €24.5m.
The acquisition is expected to be completed by late 2012 and is conditional on approval from the Netherlands Competition Authority.
The distribution company, called Benegas, distributes liquefied petroleum gas (LPG) in north Belgium and the Netherlands and made an operating profit of €4m in 2011.
The deal follows DCC completion of the acquisition of BP's LPG distribution business in Britain in August and Statoil's Fuel and Retail LPG distribution business in Norway and Sweden in September.
Benegas is based in Putten in central Netherlands and supplies approximately 55,000 tons per annum of bulk, cylinder and aerosol LPG to customers. It employs 44 staff.
