Trafigura to acquire biofuels producer Greenergy

Commodities trader Trafigura Group Pte Ltd announced a deal to acquire the European business of Greenergy, a British supplier of road fuels and producer of biodiesel.

Trafigura is buying the business from Brookfield Asset Management and its affiliate Brookfield Business Partners. The parties did not disclose the value of the deal.

Founded in 1992, Greenergy is a UK-based biofuels producer that operates plants in Britain and the Netherlands. According to the firm, it supplies around a quarter of the UK’s Road fuels. Internationally, Greenergy supplies more than 14 billion litres of fuel annually to supermarkets, oil companies, fuel wholesalers and retail and commercial customers.

In turn, Greenergy’s CEO Christian Flach stated that Trafigura’s experience with global supply chains and energy markets, and its track record of investing in renewables will further bolster the company’s offer to customers.

The transaction is subject to customary closing conditions and regulatory clearance. Upon completion, the current management team will continue to run the business.