Trafigura expands acquisition to include Greenergy’s Canadian operations

Trafigura Group Pte Ltd, a prominent player in the global commodities market, has announced its acquisition of Greenergy’s Canadian supply operations. This strategic move, which involves an undisclosed sum, complements Trafigura’s earlier announcement in March regarding the acquisition of Greenergy’s European operations, signaling a significant expansion of its interests in the renewable energy sector.

Greenergy, a key supplier and distributor of biofuels and road fuels in Europe, has been operational since 1992 and ventured into the Canadian market in 2013. It is renowned for its supply of diesel with lower emissions and a variety of road fuels, including biodiesel blends, which are distributed from its rail-fed terminals in Ontario and British Columbia.

Ben Luckock, global head of oil at Trafigura, emphasised the strategic benefits of the acquisition, stating, “Greenergy’s Canadian business has strong commercial synergies with our global distillates, gasoline, and biofuels business. It complements our well-established commercial relationships across North America.”

Christian Flach, CEO of Greenergy, expressed optimism about the integration into Trafigura, noting that it would bolster Greenergy’s capabilities across Canada. “Trafigura’s financial strength will provide us with a robust platform for growth across Canada, helping us to expand our infrastructure facilities in strategic locations and bring road fuels closer to our customers,” he said.

The acquisition is pending customary closing conditions and regulatory approvals, promising a fortified presence for Trafigura in the North American market.

Trafigura has become a significant name in the commodities trading sector, not only dealing with oil and petroleum products but also investing heavily in metals, minerals, and renewable energy projects. Its operations extend across a global network in over 156 countries, employing more than 12,000 people.