Effo expands Danish operations with two Hirtshals acquisitions

Faroe Islands-based energy company Effo has bought two companies in Hirtshals, Denmark, strengthening its position in the Danish market, broadcaster Kringvarp Føroya (KVF) reported.

The acquisitions are Hirtshals Marineolie and Hirtshals Fiskernes Handelsselskab. Effo said the deal will increase its oil storage capacity, supply options and service level.

The purchase is being completed through Carl Jensens Marinelager, which Effo owns jointly with businesspeople in Hirtshals. As part of the deal, Carl Jensens Marinelager will change its name to Effo Danmark, and Effo’s Danish operations will be run under that name.

Hirtshals is an important port for the fishing and maritime industries. Effo said it sees strong opportunities to develop its operations from the town, while bringing its Danish activities together under one name and a stronger foundation.