|Type||Private company limited by shares|
|Industry||Oil and Natural Gas|
|Products||Petroleum and derived products
|Employees||1,300 (2008)|
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. Topaz, a 100% Irish owned and managed company is Ireland's largest fuels and convenience retailer. It is also the largest supplier of home heating oil in Ireland. It is a secondary of Ion Equity Limited, a venture capital company that also used to own SWS Group and USIT.
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.
The company was slow to reveal its branding strategy, continuing at first to trade under the Shell, Statoil, and Fareplay brands. 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 who was appointed in February 2012. Williamson previously held the role of CFO.