Commodities specialist Trafigura announced on 4 March that it was acquiring the European assets of one of Europe’s largest suppliers of biofuels, Greenergy. The acquisition, which remains subject to regulatory approval, will add physical production and distribution of renewable fuels to Trafigura’s biofuels business.

Greenergy has expanded to become one of Europe’s largest suppliers of biofuels with manufacturing plants in the UK and the Netherlands. The company occupies a leading position in the UK road fuel distribution market. Greenergy’s European business is being purchased from current owner Brookfield Asset Management and its listed affiliate Brookfield Business Partners for an undisclosed sum.

Trafigura noted that the company, which will continue to be led by its current management team, will explore opportunities for expansion into new markets and products.