DCC enters four new markets via liquid gas acquisitions 

15 Jan 2026

We announce agreement to acquire UGI International LLC’s liquid gas businesses in Poland, Hungary, Czechia, and Slovakia. 

In the year to September 2025, the businesses supplied more than 200 million litres of liquid gas annually to approximately 30,000 bulk and cylinder customers. Over 90% of volumes serve commercial and industrial customers, supported by high levels of customer owned tanks. The operations are supported by a robust infrastructure and a shared service centre in Warsaw that has capacity for further expansion as the businesses grow. 

The largest of the acquisitions is AmeriGas Polska, a Warsaw-based business with a nationwide network and a leading position in the Polish market. It is a well-invested business with a nationwide infrastructure servicing more than 10,000 bulk customers and c. 8,000-cylinder customers.

The three FLAGA-branded businesses in Hungary, Czechia, and Slovakia serve a combined total of 12,000 customers and offer significant opportunities for organic growth and consolidation.

DCC has nearly 50 years’ experience in the liquid gas sector, holding market-leading positions in six countries and expanding into four more, including Austria in 2025. Liquid gas remains a priority for DCC’s capital deployment and growth strategy, supporting the transition to lower-carbon energy.

The acquisitions, valued at approximately €48 million (£42 million), are expected to deliver strong returns and will be completed in cash, subject to regulatory approval within the next six months.

These latest acquisitions demonstrate DCC’s ability to expand our business in new attractive markets. Liquid gas represents a compelling growth opportunity for DCC to consolidate fragmented markets at high returns.

Donal Murphy

Chief Executive

15 Jan 2026