DCC described the deal as a significant step in DCC's strategy to build a global LPG business, highlighting that the US is the world’s largest LPG market. While the market is attractive and growing, it is also fragmented with more than 4,000 distributors.
“The acquisition of Retail West will provide DCC with a substantial, high-quality presence in the US with leading market positions in a number of states,” the company said. “The business has an excellent customer base, a strong and well-invested operational infrastructure and an experienced management team.”
The deal is expected to complete by March 2018.
DCC shares rose 25p or 0.27% changing hands at 7,310p.