Fuchs Petrolub, part of the German lubricants company Fuchs, has confirmed that it is currently seeking businesses to acquire as part of its expansion plans.
Stefan Fuchs, the company’s chief executive, has been cited as the source of this confirmation, as he recently provided weekly German newspaper Euro am Sonntag with an interview outlining its plans to buy R&D and facilities to improve organic growth.
In one quote from this interview, Fuchs said:
“If we are able to complement this plan through strategic acquisitions, then we will continue to make purchases in the future, provided there are interesting and affordable targets.”
The company further emphasised its commitment to this strategy recently, when it completed the purchase of Statoil Fuel and Retail Lubricants, a business based in Stockholm, Sweden.
This firm is one of Scandinavia’s most prominent lubricant manufacturers, with major markets in the Baltic States, Russia and Poland. Producing lubricants for industrial and automotive usage, its acquisition by Fuchs will significantly increase that company’s profile in these countries.
Fuchs has already made a name for itself within the industrial sector through high quality machine lubricants like Fuchs Ecocool Ultralife A, but the purchase of SFR Lubricants will only help with this.
SFR Lubricants was previously owned by Couche-Tard Luxembourg S.A.R.L, which is wholly owned by Alimentation Couche-Tard Inc., despite its status as an indirect subsidiary.
The firm separated its downstream and lubricants arms last year, making them independent companies, and SFR Lubricants went on to generate 140 million Euros (£101m) in sales revenues during the 2014/15 financial year.