Irish forecourt business Topaz has been sold to Canadian fuel retailer Alimentation Couche-Tard for an undisclosed sum.
The transaction is expected to close in Spring 2016, subject to the usual regulatory approvals and closing conditions.
Topaz chief executive Emmett O'Neill welcomed the investment by Couche-Tard, describing the business as "one of the strongest names in retail in the world" and one that will "transform the retail sector here. I am thrilled that they have chosen Topaz as the foundation for their entry to the Irish market.
"They will bring enormous skill, energy and resources to this business and this market."
The move comes just weeks after Topaz was green lighted by the Competition and Consumer Protection Commission for its takeover of the Esso Ireland business.
“In the last two years Topaz has moved from being a challenged business to one which has been transformed at every level and which now leads the market here," Emmett O'Neill added.
Pictured at the announcement were Brian Hannasch, President and Chief Executive Officer of Alimentation, Couche-Tard and Emmet O'Neill, Chief Executive, Topaz
© 2015 - Checkout Magazine by Stephen Wynne-Jones