Varo Energy Announces Acquisition of Nwb Nord- Und Westdeutsche Bunker Gmbh

Source Press Release
Company Varo Energy B.V. 
Tags Corporate Deals, Deals, Refining & Marketing Activities
Date December 22, 2017

VARO Energy B.V., which refines, stores, distributes and sells fuels in North Western Europe, today announces the acquisition of NWB Nord- und Westdeutsche Bunker GmbH, an inland and coastal supplier of marine gasoil, diesel and lubricants in Germany, from Bomin Bunker Holding GmbH & Co. KG. The acquisition bolsters VARO’s strategy to grow its activities in the fuels value chain by building a network of refineries, storage tanks and distribution channels.

The acquisition will be done through VARO’s subsidiary Reinplus VanWoerden Bunker GmbH. This transaction allows VARO to expand its activities in Northern Germany through the addition of eight bunker locations in Hamburg, Cologne, Minden, Bremen, Passau, Brunsbüttel, Brake and Magdeburg as well as seven barges and two bunker stations. The total added bunker capacity through the acquisition is 3’000 m3, bringing total capacity to 21’000 m3.

VARO is already a significant player in the European inland waterways bunkering business, with major activities in the Netherlands and Germany, under the brand Reinplus FIWADO. 

Roger Brown, CEO of VARO, said: “VARO has developed a fuels value chain across North West Europe over the past several years, which enables us to provide real-time supply to our business clients and consumers across the region. The assets we are acquiring from Bomin Bunker fit well into our growth strategy and enable us to geographically expand our presence in order to better serve our customers looking to buy bunker fuels or lubricants in Northern Germany.”

The closing of this transaction is expected to take place with the transfer of the 27 employees and NWB’s operational business responsibilities to Reinplus FIWADO during the first quarter of 2018 – subject to the approval of the German competition authorities. 

Financial details have not been disclosed.

Source: EvaluateEnergy® ©2018 EvaluateEnergy Ltd