The competition watchdog is to carry out an in-depth investigation into Maxol’s proposal to acquire Naas Fuels, which owns seven service stations in the Leinster region.

The Competition and Consumer Protection Commission (CCPC) said that the probe would look at how the deal would affect levels of competition between service stations – including potential consequences for consumers.

Maxol sells oil and petroleum products and has a network of 243 Maxol-branded service stations across the island of Ireland. These are owned either by independent dealers or directly by Maxol itself.

In-depth probe

Maxol is a wholly owned subsidiary of McMullan Bros Limited, a private company owned and controlled by the McMullan family.

Naas Fuels owns and operates seven Circle K-branded service stations.

The proposed acquisition was notified to the CCPC in December 2023.

After a preliminary investigation, the CCPC has now decided that an in-depth investigation is needed to establish whether the deal may result in a substantial lessening of competition in the State.