Topaz Energy

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Topaz Energy Group Limited
Type Private company limited by shares
Industry Oil and Natural Gas
Founded 2005
Headquarters Dublin, Ireland
Area served Ireland
Products Petroleum and derived products
service stations
convenience stores
Employees 1,300 (2008)[citation needed]
Website www.topaz.ie

Topaz is an Irish petroleum retail chain, operating all over the island of Ireland. The legal entity was formed in 2005 and previously traded under the Statoil and Shell brands, until 2008 when the Topaz brand replaced both in Ireland.[citation needed] Topaz, a 100% Irish owned and managed company is Ireland's largest fuels and convenience retailer.[citation needed] It is also the largest supplier of home heating oil in Ireland.[citation needed] It is a secondary of Ion Equity Limited, a venture capital company that also used to own SWS Group and USIT.

History[edit]

The company was formed by Ion Equity in 2005 as a vehicle to take over part of the Irish operations of Royal Dutch Shell plc (the filling station and home heating operation, Irish Shell Limited) as well as the Irish operations of Statoil. This was controversial in itself, as the Competition Authority, which must approve large mergers and acquisitions, failed to take a decision on the takeover of Statoil's assets within the time frame allowed, thus automatically approving the deal. This was the first time this had happened in the Authority's history.[citation needed]

The company was slow to reveal its branding strategy, continuing at first to trade under the Shell, Statoil, and Fareplay brands.[citation needed] However, beginning in 2008, Topaz began replacing both these brands with its own. The Fareplay brand, which Topaz owns worldwide rights to, has also been retired and replaced with a number of Topaz convenience store brands including Topaz Restore and Topaz Express.

As of 2012, Topaz currently operates 118 Company Owned Company Operated (COCO) sites in the Republic of Ireland and 1 site in Larne, County Antrim, Northern Ireland. It is due to roll out a new loyalty scheme in 2013.

The current CEO is John Williamson have been appointed in February 2012. Williamson previously held the role of CFO.[citation needed]

References[edit]