UPDATE: Consumer protection group clears Maxol deal to purchase Naas Fuels service stations

The Competition and Consumer Protection Commission (CCPC) has cleared Maxol’s proposed purchase of Naas Fuels, which owns seven service stations in the Leinster region.

The proposed purchase was notified to the CCPC in December 2023, and back in April, the CCPC announced that it would carry out an 'in-depth' investigation into Maxol's deal to purchase seven Naas Fuels service stations.

The CCPC analyses the potential impact of mergers and acquisitions on consumers, and takes into consideration factors such as changes to price, consumer choice, quality and innovation.

The CCPC announced the latest update yesterday.

Giving context on Maxol, the CCPC said in its statement: "Maxol Limited, a wholly-owned subsidiary of McMullan Bros Limited, 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; [while] Naas Fuels Limited owns and operates seven Circle K-branded retail motor fuel service stations."

The CCPC continued: "The CCPC examined how the proposed deal would impact competition in different potential markets, including the retail sale of motor fuels and the operation of forecourt convenience stores in local areas serviced by both Maxol and Naas Fuels.

"The CCPC concluded that Maxol will continue to compete with other suppliers in the retail sale of motor fuels and the operation of forecourt convenience stores.

"As a result, the CCPC has determined that the proposed acquisition will not substantially lessen competition and can be put into effect."

The organisation concluded its statement by saying: "The CCPC will publish its full determination on its website no later than 60 working days after the date of the determination, and after allowing the parties the opportunity to request that confidential information be removed from the published version."

Information about the merger notification can be found here.