September 30, 2019 [Euro Pétrole] – VARO Energy (VARO) announced that the company has agreed to acquire 100% of the shares in SMD Beheer BV, a company within the Calpam-group.

 
SMD Beheer owns and operates a terminal in Gorinchem (NL) with a total capacity of 9.000cbm, as well as a network of 19 retail service stations located in the central part of the Netherlands.

The business lines which distribute lubricants and deliver fuel oil to home-based customers are not core to VARO’s strategy and will be taken over by GP Groot. Through this agreement, VARO will further strengthen its position as an integrated fuels and service supplier in the Netherlands, leading to better service and access to products for the company’s B2C and B2B-clients across the country.

With the addition of these19 Calpam-branded stations, which will be renamed to Argos in the coming months, VARO will operate over 170 retail service stations across the Netherlands.

VARO CEO Roger Brown said: “With this transaction, we’re continuing to expand our customer offering in both the wholesale and end-consumer segment in the Netherlands. We optimize our presence to offer greater flexibility to our terminal clients, while we continue to get closer to the end-consumers by increasing the density of our network.”

Calpam directors Karel van Cappelle and Ron Voorham commented: “The oil distribution market is consolidating rapidly, this is the right opportunity for us to capitalize on a growth opportunity with a new partner and grow the business to the next level.”
 
GP Groot director Pieter Talsma added; “We have worked with VARO for many years and reached a similar agreement a few years ago when we acquired the Argos-branded home base fuels delivery and lubricants activities of VARO in the Northern part of the Netherlands. The acquisition of the Calpam lubricants and home base fuel deliveries is a logical and value adding next step in our growth strategy.”
The closing of this transaction is anticipated to take place at the end of October 2019, subject to the approval of the Dutch competition authorities.

 
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