Topaz to be bought by Canadian fuel giant
Topaz CEO Emmet O'Neill describes deal as a 'game-changer' for Ireland's retail sector
Print2 December 2015
Topaz is to be acquired by Canadian company Alimentation Couche-Tard, in a deal expected to close in spring of next year, subject to regulatory approval and closing conditions.
RTE News reports that the deal will lead to the Canadian fuel and convenience retailer acquiring not only the Denis O’Brien owned energy group Topaz, but likewise linked companies Resource Property Investment Fund and the recently-purchased Esso Ireland.
With some 15,000 sites across a network spanning North America, Europe, Asia and the Middle East, Couche-Tard is one of the leading global convenience and fuel retail businesses, with 100,000 employees.
Following the recent acquisition of Esso, Topaz expanded its network in Ireland to include 464 service stations, 162 of which are company-owned, and a commercial fuels operation with over 30 depots. In total, the company employs more than 2,000 staff across Ireland.
Describing the deal as a “game changer”, Topaz CEO Emmet O’Neill said “Couche-Tard is one of the strongest names in retail in the world and their presence in Ireland will transform the retail sector here”.
In the past year, Topaz has already been making waves to shake up the sector, with its Re.Store concept winning the award for ‘Best New Convenience Store Format’ at the recent ShelfLife C-Store Awards 2015.
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