Watson Fuels, based in Brinkworth near Royal Wootton Bassett has been sold to US global fuel company World Fuel Services for £117m.
The family-owned business with 670 employees is one of the largest fuel distributors in the UK handling diesel, petrol, heating oil, lubricants and other products across England and Wales.
The firm has grown in size since its inception in 1957 with over 50 depots across England and Wales.
“We are very excited to be joining a company with the capabilities and breadth of products and services of World Fuel. Coupled with World Fuel’s solid financial foundation, this transaction will allow us to expand our product and service offerings and further grow our distribution network,” said Tony Watson, managing director of Watson Petroleum Limited.
Michael J. Kasbar, president and chief executive officer of World Fuel Services Corporation said: “We look forward to welcoming the Watson Petroleum team to World Fuel Services. Combined with our existing land business in the United Kingdom, this transaction will further solidify Watson’s position as one of the largest distributors of ground-based fuels in the United Kingdom and will provide a platform for further growth in the ground fuels space in the United Kingdom and elsewhere in Europe.”
World Fuel Services headquarters is in Miami, Florida and is a leading global fuel logistics company, principally engaged in the marketing, sale and distribution of aviation, marine and land fuel products and related services on a worldwide basis. World Fuel Services sells fuel and delivers services to its clients at more than 8,000 locations in more than 200 countries and territories worldwide.