Fuchs has acquired Statoil from Couche-Tard.
Convenience for Fuchs Image: Couche-Tard
The German-based chemicals and lubes producer will be Sweden's Statoil, one of the leading lubricant providers in Scandinavia. Statoil also operates in Poland, Russia and the Baltic States, meaning the acquisition will give Fuchs a stronger presence across all of these regions.
The deal was set at SEK 690m (€73m/$78m with Fuchs taking on an assumed net debt of around SEK 220m (€23m/$25m). The purchase will remove the only non-convenience store element from the Couche-Tard portfolio. The Canadian company is one of the largest convenience store operators in the world.