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Bomin sells off German bunker subsidiary

04 Jan 2018

VARO Energy, a refiner, storage and distributer of oil products for the North West European market, acquired German inland and coastal supplier of marine gasoil, diesel and lubricants NWB Nord- und Westdeutsche Bunker GmbH from Bomin Bunker Holding GmbH & Co. KG on 22 December.

The acquisition was conducted through VARO subsidiary Reinplus VanWoerden Bunker GmbH at an undisclosed amount.

The development allows VARO to expand its activities in Northern Germany through the addition of eight bunker locations in Hamburg, Cologne, Minden, Bremen, Passau, Brunsbüttel, Brake and Magdeburg as well as seven barges and two bunker stations.

According to VARO, its total bunkering capacity has increased from 18,000 m3 to 21,000 m3 after the acquisition.

“VARO has developed a fuels value chain across North West Europe over the past several years, which enables us to provide real-time supply to our business clients and consumers across the region,” said Roger Brown, CEO of VARO.

“The assets we are acquiring from Bomin Bunker fit well into our growth strategy and enable us to geographically expand our presence in order to better serve our customers looking to buy bunker fuels or lubricants in Northern Germany.”

Closing of the transaction is expected to take place with the transfer of the 27 employees and NWB’s operational business responsibilities to Reinplus FIWADO during the first quarter of 2018 – subject to the approval of the German competition authorities.

Photo credit: Reinplus VanWoerden Bunker
Published: 4 January, 2018
 

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