A Canadian firm is to acquire Ireland's convenience and fuel retailer Topaz Energy Group.

Couche-Tard has signed an agreement with Topaz Energy that will lead to the acquisition by the Canadian company together with linked companies Resource Property Investment Fund plc and the recently-acquired Esso Ireland Ltd. The transaction is expected to close in Spring 2016, subject to the usual regulatory approvals and closing conditions.

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Topaz Chairman, John Callaghan, said: "The last two years have been a period of phenomenal development and improvement for the company. With the steadfast support of the Board, our management and staff, we have established a well capitalised group of growing businesses which, with the recent amalgamation of Esso in Ireland, is the undoubted industry leader."

(CD/LM)