Trafigura Group Pte Ltd has announced it is acquiring Greenergy’s Canadian supply operations as part of its agreement with Brookfield Asset Management and Brookfield Business Partners.
The acquisition, for an undisclosed sum, will complement Trafigura’s previously announced proposed acquisition of Greenergy’s European operations on March 4, 2024. Both transactions are subject to customary closing conditions and regulatory approvals.
Established in 1992 to provide diesel with reduced emissions, Greenergy has since become one of Europe’s major suppliers of biofuels, operating manufacturing plants in the UK and the Netherlands, and is a prominent distributor of road fuels in the UK. Greenergy ventured into the Canadian market in 2013, serving commercial and wholesale clients with various road fuels, including biodiesel blends, sourced from its rail-fed terminals located in Ontario and British Columbia.
“Greenergy’s Canadian business aligns well with our global distillates, gasoline, and biofuels operations, leveraging our established commercial relationships across North America,” said Ben Luckock, Global Head of Oil at Trafigura.
“Following the earlier announcement regarding Trafigura’s proposed acquisition of Greenergy’s European operations, we are pleased to include our Canadian supply operations in the transaction,” added Christian Flach, CEO of Greenergy. “Trafigura’s financial stability will provide us with a solid foundation for growth throughout Canada, facilitating the expansion of our infrastructure facilities in key locations and enhancing accessibility to road fuels for our customers.”
