ACM conditionally clears acquisition of Dutch oil company Oliehandel Klaas de Boer by rival FincoEnergies

The Netherlands Authority for Consumers and Markets (ACM) has conditionally cleared the acquisition of Dutch company Oliehandel Klaas de Boer by rival oil company FincoEnergies. Both companies supply, among other products, marine fuels in various Dutch ports. In order to ensure that buyers continue to have sufficient choice between multiple suppliers of marine fuel, FincoEnergies and Klaas de Boer must sell various business assets to another market participant.

In the Dutch ports of Harlingen, Lauwersoog, Eemshaven-Delfzijl, and Den Helder, FincoEnergies and Oliehandel Klaas de Boer are practically the sole suppliers of marine fuels (“bunker suppliers”), such as marine gas oil. In these ports, they supply marine fuels to various buyers such as fishermen, marine towing service providers, passenger or ferry services, and offshore companies. ACM’s investigation has revealed that a major share of these buyers cannot simply go to a different port to get their marine fuels. This is because of the distance and the relatively high costs that are associated with it. These buyers are “bound” to a specific port for their marine fuels. Moreover, ACM’s investigation shows that there are few, if any, serious alternatives to FincoEnergies and Klaas de Boer, as a result of which prices were expected to go up after the acquisition.

Conditions to the acquisition: buyers continue to have a choice of bunker suppliers

FincoEnergies and Oliehandel Klaas de Boer will sell several business assets (including the name Klaas de Boer) to GMB Groep, which Slurink Transport Services is part of. The latter will buy, among other assets, five bunkering tankers, a storage terminal in Harlingen, and Klaas de Boer’s (port-bound) customer base. Slurink will supply marine fuels under the name Klaas de Boer. These conditions will ensure that buyers in the ports of Harlingen, Lauwersoog, Eemshaven-Delfzijl, and Den Helder will continue to be able to choose from multiple bunker suppliers. As a result of these conditions, buyers in these ports will continue to be able to choose from multiple bunker suppliers.

ACM also assessed the consequences of this acquisition for buyers in the port of IJmuiden. On the basis of this assessment, ACM does not expect any negative consequences for buyers.

Why does ACM assess mergers and acquisitions?

With every acquisition, there is the question of whether sufficient competition remains, directly after the transaction as well as in the subsequent years. Competition ensures that products or services are of high quality, and that they are offered on the market at competitive prices. Competition also promotes innovation. That is why ACM decides in advance whether or not one company can acquire another company. An acquisition is not cleared if the concentration has negative effects on competition and, by extension, on prices, quality, and innovation, and if, ultimately, it also harms consumers. ACM assesses whether markets will continue to work well for people and businesses, now and in the future.

See also

• ACM: Further investigation needed into acquisition of Dutch oil company Oliehandel Klaas de Boer by rival FincoEnergies
• Mergers, acquisitions, and joint ventures (in Dutch)

More information

• 31-07-2024 FincoEnergies applies for a license to acquire Oliehandel Klaas de Boer (concentration notification) (in Dutch)