Eneco acquires Oxxio
Expansion supply portfolio energy company
Dutch energy company Eneco and the British Centrica have reached agreement on the acquisition of Oxxio for an amount of € 72 million. This acquisition supports Eneco’s objective to expand its renewable supply portfolio that with 426,000 new customers, or 750,000 connections, now grows to 2.1 million customers. There will be no changes for Oxxio customers.
Eneco's strategy focuses on the supply and generation of renewable energy and sustainable solutions. The acquisition of Oxxio enables Eneco to realize a further growth of its supply company and, as such, fits in well with this strategy.
Green power and gas
The Oxxio organisation and brand tie in well with Eneco. As a supplier of green power and gas, Oxxio targets the consumer market as well as business clients. Oxxio customers will continue to rely on innovative solutions such as smart meters as well as the sharp prices for sustainable electricity and gas. Oxxio has gone through difficult times, but is now well on track.Oxxio will stay active as an independent brand and will not integrate with Eneco and will continue to operate independently, both in the area of financial performance and market approach. For that reason, the Oxxio organisation will remain in its present offices in Hilversum, separate from Eneco. The transaction has no impact on employment at either Eneco or Oxxio.The acquisition is subject to approval by the Netherlands Competition Authority. Eneco expects the transaction to be finalised in the second quarter of 2011.
Centrica is a leading integrated energy company, operating in the United Kingdom and North America. It secures and supplies gas and electricity for homes and businesses, offering a range of energy solutions and services.
Since its inception in 2000, Oxxio has developed into a leading supplier of energy by offering customers benefits and help them save energy. As a supplier of green power and gas, Oxxio targets the consumer market as well as business clients. Oxxio is the fourth largest energy supplier in the Netherlands. Through Oxxio4kids, a cooperation between Oxxio and Net4kids, Oxxio makes a meaningful and transparent contribution to the energy supply for child aid projects in Asia and Africa. Since 2005, Oxxio was part of the stock listed British energy company Centrica plc.More information about Oxxio (Dutch language only) is available at www.oxxio.nl and www.oxxiopers.nl.