Jones Oil acquired by DCC Energy

The Competition and Consumer Protection Commission (CCPC) has sanctioned the acquisition of Jones Oil Limited and its subsidiaries by DCC Energy Limited, one of the leading fuel distribution companies in Ireland.

The deal, for an undisclosed amount, was formally announced last month subject to CCPC approval.

Jones Oil supplies home heating oil and commercial fuels to the agricultural, commercial, industrial and marine sectors from 15 individual depots across the east, midlands and north-west of the country, including Mullingar.

The company, founded in 1984, has 150 staff and a fleet of 45 tanker trucks.

In reaching its decision, the CPCC stated it had formed the view that the proposed transaction would not substantially lessen competition in any market for goods or services in the state.

Jones Oil had €138m in turnover in 2019, the most recent year for which accounts are available. That was a 13.5% increase on the prior year.

The commission says it will publish the reasons for its determination on its website no later than 60 working days after the date of the determination.