Canadian-owned Irving Oil has announced its acquisition of the Tedcastle group of companies, an Irish-based energy marketing and distribution organisation, which operates under the brand name Top Oil.
The agreement was first announced in late summer 2018, with the expectation that the transaction would close once all conditions of sale were met, including approval by the Competition and Consumer Protection Commission in Ireland.
With the agreement finalised, Irving Oil will continue operation of the Top Oil business and its assets on a business-as-usual basis.
Top Oil is a supplier of home heating oil, as well as petrol and diesel fuel in Ireland. It recently expanded operations into company-owned retail forecourts and aviation fuel. Top Oil sells 1.3 billion l of fuel annually through its forecourt network and to commercial and residential consumers in Ireland.
In 2016, Irving Oil purchased Ireland's only oil refinery, located in the village of Whitegate.