Trafigura to acquire Greenergy’s Canadian operations

The move complements Trafigura’s proposed acquisition of Greenergy’s European operation announced back in March.

Trafigura has expanded its agreement with Brookfield Asset Management and its listed affiliate Brookfield Business Partners to include Greenergy’s Canadian supply operations for an undisclosed sum.

This complements the company’s proposed acquisition of Greenergy’s European operations announced back in March. The acquisitions are subject to customary closing conditions and regulatory approvals.

“Greenergy’s Canadian business has strong commercial synergies with our global distillates, gasoline and biofuels business and our well-established commercial relationships across North America,” stated Ben Luckock, Global Head of Oil at Trafigura.

Founded in 1992 to supply diesel with lower emissions, Greenergy is today one of Europe’s largest suppliers of biofuels. It operates manufacturing plants in the UK and the Netherlands and a leading distributor of road fuels in the UK.

“Trafigura’s financial strength will provide us with a robust platform for growth across Canada, helping us to expand our infrastructure facilities in strategic locations, bringing road fuels closer to our customers,” added Christian Flach, Greenergy CEO.

The firm entered the Canadian market in 2013, and supplies commercial and wholesale customers with a range of road fuels including higher percentage biodiesel blends from its terminals in Ontario and British Columbia.