DCC plc

From Wikipedia, the free encyclopedia
Jump to: navigation, search
DCC plc
Type Public limited company
Traded as LSEDCC
Founded 1976 (Dublin, Ireland)
Headquarters Dublin, Ireland
Key people Michael Buckley (Chairman)
Tommy Breen (CEO)
Revenue €12,966.3 million (2013)[1]
Operating income €211.5 million (2013)[1]
Net income €130.8 million (2013)[1]
Website www.dcc.ie

DCC plc is an Irish diversified investments group and holding company. DCC is organised and managed in five separate divisions (DCC Energy, DCC SerCom, DCC Healthcare, DCC Environmental and DCC Food & Beverage), each focused on specific market sectors. Its shares are listed on the London Stock Exchange. It is a constituent of the FTSE 250 Index.

History[edit]

The company was founded by Jim Flavin in 1976 as Development Capital Corporation Limited.[2] Originally the company focused on providing venture capital to start ups, however in the mid-1980s it changed direction and became an industrial holding company, changing its name to DCC and floating on the Irish Stock Exchange and London Stock Exchange in 1994.[3]

The company was embroiled in a controversy over the issue of insider trading in Fyffes plc, the Irish fruit importing company in which a subsidiary of DCC, Lotus Green, held a stake which was sold in the year 2000. In 2002 Fyffes sued DCC over the sale of its stake in the company. The case was tried in the Irish High Court from December 2004 until July 2005, and on 21 December 2005 judgement was handed down. DCC was cleared of insider trading, although it was found to have been acting as a "single entity" with Lotus Green and Jim Flavin with regards to the sale of the shares. Fyffes appealed to the Supreme Court of Ireland and, in a judgement[4] on 27 July 2007, the Supreme Court overturned the High Court's verdict and ruled that the documents that had been in Flavin's possession when DCC sold the shares had indeed been price sensitive. In April 2008, Fyffes settled its case against DCC for an amount of €37.6 million.[5] As a result of this case, DCC and Flavin came under the examination of the Irish Director of Corporate Enforcement.[6] In January 2010, The report of the High Court Inspector into the affairs of DCC plc was published. The Director of Corporate Enforcement concluded that no further action was warranted by his Office.[7]

In 2011, DCC bought Maxol's Home Heating company, Maxol Direct, which it re-branded as Emo.[8] In 2012, DCC spent around €100 million acquiring LPG (Liquefied Petroleum Gas) distribution businesses in the Netherlands, Britain, Sweden and Norway.[9]

Divisions[edit]

These are:[10]

DCC Energy

DCC Energy is the leading oil and liquefied petroleum gas (LPG) sales, marketing and distribution business in Britain and Ireland and one of the leading oil distribution businesses in Austria, Denmark and Sweden. DCC Energy is also a leading distributor of LPG in Britain, Ireland, the Netherlands, Sweden and Norway. It owns the Certas Energy oil distributor / filling station network in the UK and the Emo network in Ireland.

DCC SerCom

DCC SerCom comprises SerCom Distribution, which is a leading distributor of IT, communications and home entertainment products in Britain, Ireland and France, and SerCom Solutions, which provides outsourced procurement and supply chain management services in Ireland, Poland, China, Mexico and the USA.

DCC Healthcare

DCC Healthcare comprises Hospital Supplies & Services, which provides sales, marketing, distribution and other services to medical device and pharma companies in the Irish and British hospital and homecare markets, and Health & Beauty Solutions, which provides outsourced product development, manufacturing, packing and other services to health and beauty brand owners, principally in the areas of nutrition and beauty products. It owns the brands Thompson & Capper (T&C), EuroCaps and Laleham Healthcare.

DCC Environmental

DCC Environmental is a leading British and Irish provider of recycling, waste management and resource recovery services to the industrial, commercial, construction and public sectors, operating in both the non-hazardous and hazardous segments of the market.

DCC Food & Beverage

DCC Food & Beverage is principally focused on the sales, marketing and distribution of food and beverage products in Ireland. It owns the Robert Roberts coffee company as well as the Findlater Wine and Spirit Group and distributes the KP snack food brand (itself owned by United Biscuits).

See also[edit]

External links[edit]

References[edit]