Tedcastle sold to Irving oil as the gas station sector set for shake-up

  • Tedcastle sold to Irving oil as the gas station sector set for shake-up
    Independent.t. E.
    Canadian transnational Irving oil agreed to buy the company for oil.
    https://www.independent.ie/business/irish/tedcastle-sold-to-irving-oil-as-forecourts-sector-set-for-shakeup-37239092.html
    https://www.independent.ie/business/irish/article37239091.ece/38f42/AUTOCROP/h342/2018-08-22_bus_43464897_I1.JPG

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Canadian transnational Irving oil agreed to buy the company for oil.

The Reihill family to sell the business, known as the group Tedcastle, for an undisclosed sum. However, it is understood more than 100 million euros.

Top oil petrol station business, the aviation fuel business, as well as a supplier of home heating oil.

The deal is still subject to regulatory approval and the Commission for consumer protection.

Deputy Chairman of Tedcastle company Raymond Reihill said: “this is a very significant day for the family and our business in Ireland”.

“We are pleased to hand over the reins, at the conclusion of these agreements, the other family company, and we are confident that the business will grow and prosper.”

Irving oil said the deal “ultimately will further expand its business across the Atlantic,” previously acquired the only refinery in Ireland, the cork village of Whitegate in 2016.

“It’s a great day for our company,” said Arthur Irving, Chairman of Irving oil.

“We pride ourselves on doing business in Ireland and look forward to working with all the top oil. We are excited about the future”.

Irving said Upper mark of oil will be maintained as if the existing workforce. Top oil terminal in the Port of Dublin, 20 inner tank farms, 200 of dealer and company-owned gas stations.

Gas station business is particularly low in Ireland, with the top of the oil before Covered in such listed company, the American giant Valero, which owns Texaco, a long-established brand Maxol, and the canadian Tard business which couche recently bought a Topaz and rebranding it as a circle K.

Both Prolonged and Topaz talked about plans to diversify its offerings, more attention to the food, which tends to be a higher margin business than the fuel.

The best oils also have a problem, as the company seeks to transition from oil to cleaner fuel sources.

“We’re very excited about this opportunity to develop our business in Ireland and work with top oil companies,” said Irving oil President Ian Whitcomb.

“We’ve worked hard to build strong relationships with clients and establish meaningful partnerships with the communities in Ireland and is delighted to continue to develop our business in this area. It is a natural step for us.”

  • Read more: background: Tedcastle goes from one dynasty to another

Tedcastle is a company with unlimited liability, and therefore does not need to file detailed financial statements.

Its history dates back to the 1800s when it was founded by Robert Tedcastle coal-import business service Dublin.

She came into the ownership of the Reihill family in 1951.

According to a Top oil, the Tedcastle Group also includes a business called Bruce Lindsey.

In addition, part of the business is properties Tedcastle, who looks after the property interests of the group both here and in the UK.

Dublin-on top of the butter has 200 years of history and operates on both sides of the border.

“We look forward to the arrival of Irving oil and continues to grow and develop our business under your umbrella,” said CEO Gerard Boylan.

“We share the commitment of our employees, customers and the General public”, he added.

Law firm LK shields advised Tedcastle for sale, together with IBI corporate Finance.

Irving, based in Saint John, new Brunswick, moved to Europe in 2014 with headquarters in London. Founded in 1924, it operates Canada’s largest refinery and a network of distribution terminals and filling stations. The best oil is based in Dublin.

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