EMEA News
WFS Completes Watson Acquisition
World Fuel Services Corp. [NYSE:INT] (WFS) says it has completed the acquisition of Watson Petroleum Ltd. (Watson).
"The Watson acquisition will significantly expand our land segment in the United Kingdom and serve as a platform for further growth across Europe," said WFS President and CEO Michael J. Kasbar.
"We are pleased to welcome the Watson team to the World Fuel organization."
WFS first announced plans for the acquisition in January, saying it would pay £117 million ($191 million) for the Brinkworth, England company.
Watson, the second-largest UK distributor of ground-based fuels, reported revenues of $2.2 billion in 2013.
WFS reported revenues of $41.6 billion, including marine segment revenues of $14.8 billion, and a $203.1 million profit in 2013.
