Lubricants marketeer, Wakefield, has taken ownership of its next door neighbour's manufacturing facility.
The Toronto-based company has apparently been planning the acquisition of the Castrol Canada plant, from its owners BP Lubricants, for some time. Wakefield already has an exclusive deal to market, sell and distribute Castrol lubricants in Canada; now they will take responsibility for manufacturing blending and packaging the products as well.
The plant, which is next door to Wakefield's Toronto offices, has been in the company's sights for some time, since BP Lubricants announced they were looking at various options for the future of the facility. Wakefield signed a letter of intent earlier this year, but the deal has only now become official.
Wakefield sees the acquisition as an opportunity to strengthen its business base across Canada as well as retaining Castrol Canada's market-leading share of the automotive lubes market.