Business support services company DCC has agreed to buye UGI International's liquid gas businesses in Poland, Hungary, Czechia and Slovakia for an enterprise value of about €48m.
The businesses operate across the four countries, supplying over 200 million litres of liquid gas products to approximately 30,000 bulk and cylinder customers in the year ended September 2025.
DCC said that commercial and industrial customers account for more than 90% of the volumes of the businesses, and the strength of the business is underpinned by high levels of company owned tanks.
The four businesses operate through a shared service centre in Warsaw that has capacity for further expansion as the businesses grow.
AmeriGas Polska, headquartered in Warsaw, employing over 225 people and founded in 2006, is the largest business of the four that DCC has agreed to buy. It services more than 10,000 bulk customers and about 8,000-cylinder customers.
DCC said that Poland, one of the largest liquid gas markets in Europe, is an especially attractive liquid gas market for it to enter.
The business has grown over the last seven years in line with the developing Polish economy and is now the second largest player in Poland with about 13% market share, excluding auto gas, a segment in which the business does not operate.
The three smaller FLAGA-branded businesses in Hungary, Czechia and Slovakia have about 12,000 bulk and cylinder customers combined. These businesses have nationwide networks, providing DCC with a platform to grow market share organically and to optimise by driving operational efficiencies.
DCC has been operating in the liquid gas market for nearly 50 years, and has market-leading positions in six countries as well as establishing growth platforms in a further four.
One of those new growth platforms is Austria, where it entered the market last October after the acquisition of FLAGA.
The company said that liquid gas is central to its growth strategy and accounts for the most significant part of its Energy Solutions operating profit.
"As a lower carbon energy solution, it is one of our key priorities for growth and for capital deployment," it added.
The acquisitions are subject to customary regulatory approval and are expected to complete within six months.
Donal Murphy, chief executive of DCC, said today's deals demonstrate DCC's ability to expand the business in new attractive markets.
"Liquid gas represents a compelling growth opportunity for DCC to consolidate fragmented markets at high returns. We are very focused on growing our liquid gas business in both Europe and North America," Mr Murphy said.
