DCC said it has conditionally agreed to buy British oil distribution business CPL Petroleum from CPL Industries Holdings for €74.2 million in cash.
The business support services group also said that, based on a satisfactory first quarter, it has raised its full-year outlook and expects low double-digit operating profit growth, up from its earlier forecast of a high single-digit rise for the year.
DCC has budgeted for about 70 per cent of group profits to be earned in the second half.
The company said CPL Petroleum has a relatively stronger business in southern England and will complement DCC's existing business, which is relatively stronger in northern England and Scotland.
