DUBLIN, Ireland — DCC plc has reached an agreement to acquire BP''s liquefied petroleum gas (LPG) distribution business in Britain.
Completion of the acquisition is expected to take place at the end of September 2012.
The business supplies a wide range of industrial, commercial and domestic customers with an annual volume of approximately 87,000 tons of bulk and cylinder LPG.
"DCC is pleased to have reached agreement with BP to acquire its LPG distribution business in Britain,” said Tommy Breen, chief executive of DCC. “We have a successful track record in acquiring energy distribution businesses from the oil majors as they exit downstream activities and this transaction will enhance DCC''s position as the leading oil and LPG sales, marketing and distribution business in Britain."