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WEX wraps up acquisition of Dutch firm Go Fuel Card

WEX has completed the acquisition of Go Fuel Card, the fuel card business of British fuel station and convenience retailer EG Group.

Headquartered in Breda of Netherlands, the acquired business has around 200,000 proprietary cards in circulation.

It operates across the Netherlands, France, Belgium and Luxembourg and is accepted across 5,000 retail stores.

In March this year, WEX announced its plans to acquire Go Fuel Card. The financial details of the transaction were not divulged.

The acquisition strengthens WEX’s fleet payments operations across Europe.

At the time of the announcement, WEX Global Fleet president Scott Phillips said: “The addition of the Go Fuel Card business will strengthen our position in Europe by expanding our footprint in attractive markets and broadening our card acceptance through an independent, proprietary card network.

“I am also extremely excited about the opportunity to partner with EG Group to expand our Fleet business throughout EG locations in the U.S., Europe and Australia.

“This is an attractive business that projects further reductions to our sensitivity to retail fuel prices, while providing us a strong pathway for organic growth and value creation over time.”

WEX is a payment processing company operating across fleet, travel and healthcare sectors. The company operates in more than ten countries and in around 20 currencies through 4,800 associates.

In November last year, American Express partnered with WEX to facilitate supplier payments using virtual cards.

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