Europe: DCC Confirms Completion of Benegas Takeover

Sales and distribution firm DCC has confirmed that it has finalised the takeover of Dutch gas supplier Benegas. DCC paid around €24.5 million for the company, which mainly supplies to industrial and commercial clients. 

Benegas, which operates throughout the Netherlands and some parts of Belgium, is the official natural gas supplier of BP branded gas in the region and specialises in propane cylinders and aerosols.

Last year, the company recorded an operating profit of €4m, with €15.4m in tangible assets. It employs 44 people from its base of operations in Gelderland Putten.

DCC, which trades on the Dublin and London stock exchanges, first made LSE authorities aware of its intention to buy Benegas back in mid-September. It has yet to be approved by Dutch Competition Authority. It follows DCC’s €50m purchase of BP’s LPG business earlier this year and similar purchases in Sweden and Norway.