FUCHS, the world’s largest independent lubricant manufacturer, has further strengthened its portfolio by purchasing one of the industry leaders in Scandinavia.
FUCHS Petrolub SE has acquired 100 per cent of the shares in Statoil Fuel & Retail Lubricants, a wholly indirect subsidiary of Alimentation Couche-Tard.
Sweden-based Statoil Fuel & Retail Lubricants is a leading and well-respected provider in Scandinavia and also has a strong presence in Poland, Russia and the Baltic States.
The business manufactures automotive and industrial lubricants and specialties and is a well-known provider to many other industries, including the marine and offshore sectors.
FUCHS, which has its UK base in Stoke-on-Trent, said the acquisition would bolster the overseas business.
A spokesman said: “We are delighted that the purchase of Statoil Fuel & Retail Lubricants has been completed, which will help to significantly increase our presence in Scandinavia and to establish ourselves as one of the leading lubricant companies in the region.
“It will also allow us to expand our market position in Poland and Russia as well as achieving a presence in the Baltic States.
“The Statoil Fuel & Retail Lubricants products complement the existing portfolio of the FUCHS Petrolub Group and we look forward to working with our new customers.”
The competition authorities have given clearance to the purchase and the transaction has been closed.
The process of integrating the two companies has started and will be completed during 2016.
In the financial year 2014/2015, Statoil Fuel & Retail Lubricants generated sales revenues of approximately €140million, around two-thirds of which can be attributed to Scandinavia and one third to Eastern Europe. The company employs 470 people and maintains a production site in Nynäshamn near Stockholm.
A spokesman for Statoil Fuel & Retail Lubricants said the merger will create benefits for existing customers by giving them access to a global platform as well as broader knowledge base and a wider range of products.
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 with its headquarters in Mannheim, ranks number one among the world’s independent lubricant providers.
The business has a workforce of more than 4,000 employees in a total of 52 operating companies worldwide.