Corrib Oil has today entered an agreement to acquire the H2 Group subject to approval by the competition regulator.
This deal will see one of the country’s leading service station and oil distribution providers acquire 13 high quality retail sites across the south and east of Ireland.
It will expand the Corrib Retail footprint to 33 stores and they will be located in Listowel, Co. Kerry; Kildare; Limerick; Tipperary; Dublin; Laois; Offaly and Cork.
Corrib Oil, founded in Claremorris in 1987, operates two distinct divisions, Corrib Retail and Corrib Distribution
They currently operate 20 convenience stores with forecourts; while Corrib Distribution operates through 21 depots across 14 counties.
All Corrib Retail convenience stores are branded as Spar, while all forecourts are branded Circle K or Texaco through a partnership with BWG Foods.
On conclusion of the acquisition deal, Corrib will operate across 54 sites in 16 counties in total - 20 Corrib service stations, 21 oil distribution depots and 13 H2 Group retail sites.
Currently employing 700 people, the addition of H2 Group to Corrib Oil will bring total employee numbers to over 1,000 people.
Commenting on the deal, Eugene Dalton, Chief Executive Officer, Corrib Oil said that the acquisition of H2 Group is a significant step in the company’s growth strategy.