Deal should close by year’s end.
Alimentation Couche-Tard Inc. has signed, through its wholly-owned indirect subsidiary Couche-Tard Luxembourg S.A.R.L., an agreement to sell its lubricants business to FUCHS PETROLUB SE (FUCHS).
The sale is through a share purchase agreement, pursuant to which FUCHS would acquire 100% of all issued and outstanding shares in Statoil Fuel & Retail Lubricants AB (SFR Lubricants).
The deal, which is subject to standard regulatory approvals and closing conditions, is expected to be completed before the end of 2015. The parties to the deal have agreed not to disclose the purchase price at this time.
SFR Lubricants is one of the leading suppliers of lubricants in Scandinavia and the Baltics, and in recent years has had a high rate of growth in Central and Eastern Europe.
FUCHS PETROLUB is a global Group based in Germany, which develops, produces and distributes around 10,000 lubricants and related specialties across the world. The Group, which was founded in 1931 and has its headquarters in Mannheim, ranks number one among the world’s independent lubricant providers. The Group has a workforce of more than 4,000 employees in a total of 50 operating companies worldwide. This acquisition complements their existing European footprint, giving them a leading market position in the Scandinavian region and strengthening their position in Central and Eastern Europe.
“This transaction is in the best interests of both groups as well as our respective employees,” said Raymond Paré, vice-president and chief financial officer of Alimentation Couche-Tard Inc.