CCPC to open in-depth investigation into Maxol deal to purchase Naas Fuels service stations
April 11, 2024
The Competition and Consumer Protection Commission (CCPC) is to carry out an in-depth investigation into Maxol’s proposal to acquire Naas Fuels, which owns 7 service stations in the Leinster region. The investigation will consider how the deal would affect levels of competition between service stations, including potential consequences for consumers. Details of the parties and the proposed purchase are available here (M/23/068).
Under competition law, the CCPC assesses mergers and acquisitions notified to it in order to protect competition. In competitive markets, businesses are incentivised to compete on price and improve the quality of their products and services. CCPC merger investigations examine the potential impact a purchase may have on consumers, including changes to price, consumer choice, quality and innovation.
Maxol sells oil and petroleum products. The Maxol service station network consists of 243 Maxol-branded retail motor fuel service stations across the island of Ireland. These are owned either by independent dealers or directly by Maxol itself. Naas Fuels owns and operates seven Circle K-branded retail motor fuel service stations.
The proposed purchase was notified to the CCPC in December 2023. Following a preliminary investigation, the CCPC has now decided that an in-depth investigation is needed to establish whether allowing the purchase to go ahead may result in a substantial lessening of competition in the State.
The CCPC welcomes submissions from interested parties by email to mergers@ccpc.ie by 4:30pm on 24 April 2024.
As the investigation is ongoing, no further information can be provided at this time.
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