Acquisition Overview
Greenergy has agreed to acquire Armorine, a French importer and distributor of fuels and manufacturer of lubricants, based in Brittany. This acquisition marks Greenergy's entry into the French market.
Armorine's Operations
Founded in 1932, Armorine has established itself as a key supplier in the French market, with operations including fuel import and distribution, lubricant production, and a national network of oil depots and supply sites.
Strategic Implications
The acquisition will enable Greenergy to support Armorine's growth by leveraging opportunities in both traditional and renewable fuel sectors. Greenergy is already a significant fuel supplier in the UK, Ireland, and Canada, and a major biodiesel producer in Europe.
Regulatory Approval
The transaction is subject to regulatory approval, and Armorine will continue to operate under its own brand post-acquisition.
