WEX has announced today it plans to acquire the fuel card business (“Go Fuel Card”) of EG Group, an independent fuel station and convenience retailer in Europe. The anticipated transaction is subject to completion of employee information and consultation processes, and other approvals, as appropriate.
The Go Fuel Card business is headquartered in Breda, Netherlands with approximately 200,000 proprietary cards in circulation across the Netherlands, France, Belgium and Luxembourg. Go Fuel Card offers fuel cards for vehicles to a range of customers from small and medium enterprises, commonly called SMEs, to larger fleet operators. Go Fuel Card operates on an independent proprietary card network with acceptance at over 5,000 retail sites.
WEX expects the transaction to close in the second quarter of 2019, subject to customary closing conditions.