FleetCor has bought ReD’s UK fuel card business and promises more could follow as it looks to further strengthen its position in the market.

ReD will sit alongside Keyfuels, which already manages more than 1.5 billion litres of fuel each year for more than 300,000 cardholders, with a network of 1,400 bunkering and retail forecourt sites nationwide.

This will now include ReD’s fuel card operations in the UK and Ireland, consisting of 15,000 fleet customers, 120,000 fuel cards and annual volume of 700 million litres.

“This is a significant investment and is part of an ongoing strategy for FleetCor so Keyfuels can grow through the acquisition of good quality fuel and fleet card businesses,” explained Peter Bridgen, managing director of Keyfuels.

The acquisition is FleetCor’s ninth in Europe since 2006.

Since its inception in 1984, Retail Decisions or ReD has grown to become a leading fuel card reseller enjoying partnerships with major oil companies.

Known for providing a range of options, it has prevailed by developing specific fuel card programmes for HGV, LCV and van and car fleets.

“ReD’s business slots together very well with FleetCor’s existing UK Businesses,” explained Ron Clarke, FleetCor’s chairman and chief executive officer.

“The combination has significant complementary strengths.”

Bridgen added: “We are working closely with our existing customers and ReD’s customers to ensure the acquisition is a completely smooth process and everyone involved is up-to-date with all the latest information.

“Over time, existing and potential customers will benefit from a broadening of the site network and more product options from the combined businesses, making their buying decisions easier.

"This will ensure there is more opportunity to match the right product and service to individual requirements.

“Other key advantages will be improved stability of network and systems, along with a simplified stock reconciliation for bunker customers.

"Ultimately, this will add value to our customers’ businesses.”

ReD’s chief executive officer Carl Clump welcomed the move, declaring FleetCor its “logical home”.

But, the companies were remaining tight-lipped over how much money was involved in the deal and what it may mean for their employees.

Bridgen simply said: “Over the next few months, our teams will be working to understand how the businesses fit together to deliver the best outcome for FleetCor and our customers.”