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DCC unveils first LPG acquisition in United States

DCC described the deal as a significant step in its strategy to build a global LPG business
deal, business men handshake
The deal is expected to complete by March 2018.

DCC Plc (LON:DCC) has announced its first acquisition in the US LPG market, picking up the Retail West LPG division of NGL Energy Partners LP in a deal worth US$200mln (£152mln).

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.

READ: Fuel distributor DCC still getting currency boost from Brexit

“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.

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Article
December 29 2015

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