Trafigura completes acquisition of UK-based biodiesel producer Greenergy

Singapore-based Trafigura Group and Greenergy, a U.K.-based supplier of road fuels and a major European biodiesel producer, announced Aug. 1 that Trafigura has completed the acquisition of Greenergy’s European and Canadian supply businesses from Brookfield Asset Management and its listed affiliate Brookfield Business Partners.

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

Internationally, Greenergy supplies over 15 billion liters (over 3.96 billion gallons) of fuel annually to supermarkets, oil companies, fuel wholesalers and retail and commercial customers.

The company markets in Ireland through the Inver Energy and Amber Petroleum brands and in Canada supplies commercial and wholesale customers from its rail-fed terminals in Ontario and British Columbia.

“Our two businesses are highly complementary,” said Ben Luckock, Trafigura’s global head of oil.

“By combining our commercial and market expertise, we plan to develop Greenergy’s current business and explore new opportunities that will support the transition to a lower-carbon future,” he added.

“Trafigura’s financial strength, strong supply-chain expertise and global customer base should provide a robust platform for Greenergy to accelerate its growth,” Luckock said.

Greenergy CEO Adam Traeger said, “The acquisition by Trafigura is an exciting step for Greenergy as we look to accelerate our growth. We are looking forward to working with the Trafigura team to expand our reliable supply of transport fuels and enhance Greenergy’s offer to our customers.”

Trafigura’s intention to acquire Greenergy was first announced in March.