Transaction bolsters VARO’s growth strategy in North Western Europe
Cham, 22nd December, 2017 - VARO Energy B.V., which refines, stores, distributes and sells fuels in North Western Europe, today announces the acquisition of NWB Nord- und Westdeutsche Bunker GmbH, an inland and coastal supplier of marine gasoil, diesel and lubricants in Germany, from Bomin Bunker Holding GmbH & Co. KG. The acquisition bolsters VARO’s strategy to grow its activities in the fuels value chain by building a network of refineries, storage tanks and distribution channels.
The acquisition will be done through VARO’s subsidiary Reinplus VanWoerden Bunker GmbH. This transaction allows VARO to expand its activities in Northern Germany through the addition of eight bunker locations in Hamburg, Cologne, Minden, Bremen, Passau, Brunsbüttel, Brake and Magdeburg as well as seven barges and two bunker stations. The total added bunker capacity through the acquisition is 3’000 m3, bringing total capacity to 21’000 m3.
VARO is already a significant player in the European inland waterways bunkering business, with major activities in the Netherlands and Germany, under the brand Reinplus FIWADO.
Roger Brown, CEO of VARO, said: “VARO has developed a fuels value chain across North West Europe over the past several years, which enables us to provide real-time supply to our business clients and consumers across the region. The assets we are acquiring from Bomin Bunker fit well into our growth strategy and enable us to geographically expand our presence in order to better serve our customers looking to buy bunker fuels or lubricants in Northern Germany.”
The closing of this transaction is expected to take place with the transfer of the 27 employees and NWB’s operational business responsibilities to Reinplus FIWADO during the first quarter of 2018 – subject to the approval of the German competition authorities.
Financial details have not been disclosed.
About VARO:
VARO refines, stores and distributes oil products for the North West European market. The company owns a refinery in Cressier, Switzerland, a minority share in the Bayernoil refinery, Southern Germany, as well as storage facilities, distribution and marketing businesses in Benelux, France, Germany and Switzerland. VARO’s shareholders include private investment company Reggeborgh; Carlyle International Energy Partners, an advisory fund which is part of the global alternative asset manager The Carlyle Group; and international energy and commodities company Vitol.
About Bomin
The Bomin Group has been active in the bunker business for 40 years via its subsidiaries and is one of the world’s leading independent suppliers and traders of marine fuel. The business portfolio covers activities ranging from the supply of bunker fuels to lubricants and other services to the shipping industry. Bomin is 100 percent owned by Mabanaft.
For more information about Bomin, please visit http://www.bomin.com.
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