Mergers & Acquisitions

Fuchs Petrolub acquires Statoil Fuel & Retail Lubricants from Couche-Tard

Fuchs buys Statoil Fuels and Lubricants

Fuchs Petrolub SE, which operates globally in the lubricants sector, is acquiring Statoil Fuel & Retail Lubricants AB (SFR Lubricants), based in Stockholm, Sweden from Couche-Tard Luxembourg S.A.R.L., a wholly owned indirect subsidiary of Alimentation Couche-Tard Inc.

SFR Lubricants is one of the leading lubricant providers in Scandinavia. It also operates in Poland, Russia and the Baltic States. As a manufacturer of automotive and industrial lubricants and specialties, SFR Lubricants is a well-known provider to many industries.

With this acquisition, the Fuchs Petrolub Group is strengthening its presence in Scandinavia and establishing itself as one of the leading lubricant companies in this region. At the same time, Fuchs Petrolub is expanding its market position in Poland and Russia and will now have a presence in the Baltic States. The products from SFR Lubricants complement the portfolio of Fuchs Petrolub.

The transaction signed on August 1 is pending approval by antitrust authorities. Fuchs Petrolub later announced on August 4 that the agreed purchase price is SEK 690 million ( USD 79.8 million), with an assumed net debt of around SEK 220 million (USD 25.4 million). Fuchs Petrolub said the purchase price is subject to possible amendments, which are expected to be in the single-digit range.

The lubricants business of SFR Lubricants was spun off from its downstream business last year and transitioned into independent companies. In the financial year 2014-2015, SFR Lubricants generated sales revenues of approximately EUR 140 million (USD 153 million), around two-thirds of which can be attributed to sales in Scandinavia and one-third to sales in Eastern Europe. The company employs 470 people and maintains a production site in Nynäshamn, near Stockholm.

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