Subject to approvals and conditions, the deal is expected to be completed before the end of 2015, Alimentation Couche-Tard said in a news release. The company said SFR Lubricants is one of the leading lubricant suppliers in Scandinavia and the Baltics, and in recent years has had a higher rate of growth in Central and Eastern Europe.

With this acquisition, the Fuchs Petrolub Group is strengthening its presence in Scandinavia and establishing itself as one of the leading lubricant companies in this region, Fuchs stated in a news release. At the same time, Fuchs is expanding its market position in Poland and Russia and will now be present in the Baltic States.

According to its web site, SFR Lubricants manufactures automotive and industrial lubricants and greases, including metalworking fluids. The company said it produces and sells more than 750 different types of lubricants and established a Way motor oil brand in the retail segment.

Fuchs said that Statoil Fuel & Retails lubricants business was spun off from its downstream business last year and transitioned into independent companies. In the financial year 2014-2015, SFR Lubricants generated sales revenues of 140 million (U.S. $153.3 million), around two-thirds of which could be attributed to Scandinavia, with the remaining third attributed to Eastern Europe. The company employs 470 people and maintains a production site in Nynashamn, Sweden, near Stockholm.

If and when antitrust authorities approve the deal, SFR Lubricants 470 employees would remain with the company, and there would be a transition time for SFRs lubricant brands before switching over to manufacturing under Fuchs brands, Fuchs spokeswoman Tina Vogel told Lube Report.