Canadian owners of Whitegate refinery to buy Top Oil
Canadian company Irving Oil have confirmed that it has signed agreements to acquire the Tedcastle group of companies which operates under the brand name Top Oil.
It is not known how much the sale went for with Irving Oil saying that more information would be shared at the close of the sale.
Following completion of the acquisition, Top Oil branding will remain in place across all locations and the existing workforce will be maintained.
The move will extend Irving Oil's business in Ireland as it previously purchased Ireland's sole refinery - Whitegate Refinery in Cork Harbour.
Top Oil recently expanded operations into company-owned retail forecourts and aviation fuel.
It sells more than one billion litres of fuel every year to commercial and residential consumers in Ireland.
"We are proud to be doing business in Ireland and are looking forward to working with everyone at Top Oil. We’re excited about the future," said Arthur Irving, Chairman of Irving Oil.
"We are looking forward to joining Irving Oil and continuing to grow and develop our business under its umbrella," says Gerard Boylan, CEO, Top Oil.
"We share a common commitment to our employees, customers and the wider community."
The acquisition will be complete once all conditions of the sale have been met including approval by the Competition and Consumer Protection Commission in Ireland.
