Business
DCC Development Update
DCC Development Update.
About this update from Dcc Plc
[{"type":"text","content":"\n \nRNS Number : 8893Y DCC PLC 14 May 2019 \n\n \n \n14 May 2019\n \nDCC Development Update\n \nDCC plc, the leading international sales, marketing and support services group, is issuing this Development Update and separately today the Group has also announced its Preliminary Results for the year ended 31 March 2019. \n \nIt has been another year of significant growth and development for DCC, with total acquisition commitments in the last twelve months of approximately £370 million. This includes £90 million of new acquisitions being announced today. In addition, DCC has also recently reached agreement with Shell Aviation to create a new branded aviation marketing and distribution business in Denmark.\n \nDCC LPG\nPacific Coast Energy - US\nIn April 2019, DCC LPG acquired Pacific Coast Energy, an LPG distribution business operating in the north-west of the US, based on an enterprise value of £30 million. The business trades under a number of brand names, including Pacific Coast Energy, Sunshine Propane and Pioneer Propane. It has an established base of residential and commercial customers which it services from five well-located facilities in Washington and Oregon.\n \nDCC LPG entered the US market for the first time in 2018 through the acquisition of Retail West, which has a strong market position in Kansas, Illinois and Indiana and a modest presence in seven other states, including Washington and Oregon. The acquisition of Pacific Coast Energy, DCC LPG's first material bolt-on acquisition in the US market, will provide an enlarged presence in this attractive regional market and is consistent with DCC's strategy to develop a significant LPG business in the large and fragmented US market.\n \nDCC Retail & Oil \nDCC Retail & Oil completed a number of small complementary bolt-on acquisitions during the period, primarily in the lubricants and retail sectors. These acquisitions have been successfully integrated into the existing businesses.\n \nAviation - Denmark\nIn March 2019, DCC Retail & Oil's Danish business agreed to create a new branded marketing and distribution aviation business with Shell Aviation. The relationship will involve Shell Aviation purchasing an interest in DCC's existing Danish aviation business, which is already the largest supplier of aviation fu...