DCC plc has reached agreement with NGL Energy Partners LP (“NGL”) to acquire its Retail West LPG division based on an enterprise value of US$200 million.
DCC Energy’s enters the US LPG market for the first time. America is one of the world’s largest LPG markets. It is attractive, growing and highly fragmented: there are over 4,000 LPG distribution businesses operating in the market. The acquisition of Retail West will provide DCC with a substantial presence in the US with leading market positions in many states.