The remaining group will focus on the energy sector.
In a stock market update, DCC said reparations had begun for the sale of DCC Healthcare, which is made up of a mix of businesses put together through a series of acquisition that service the health and pharmaceutical sectors. That sale is expected to complete in 2025.
DCC will review its strategic options for DCC Technology, following completion of what is described as a “value enhancing operational improvement programme”, within the next 24 months.
Surplus cash arising from the disposals will be returned to shareholders, while maintaining a strong, investment-grade balance sheet, DCC said.
DCC said the shift its the most important development in the history of the company.
DCC Healthcare comprises DCC Vital, supplying medical products and devices to hospitals and GP surgeries across the UK, Ireland, and Europe, and DCC Health and Beauty, developing and manufacturing nutritional supplements and beauty products for brands including Estee Lauder and Vitabiotics.
DCC Healthcare represented 15pc of the group’s operating profit for the half-year ended
DCC Technology is a leading specialist distributor of audio-visual, consumer technology and appliances through its Pro Tech, Info Tech and Life Tech brands, being a key distributor for Apple, Asus and Microsoft in the UK.
In the energy sector DCC says there are M&A opportunities in high growth, high margin and low carbon areas.
DCC has already completed five transactions worth £180m this year in the clean energy space. DCC owns the Flogas brand in Ireland and its mobility division supplies retail fuels and forecourts and motorway EV charging through international brands including Certa and Esso, as well as providing fleet services with fuel cards.
DCC CEO Donal Murphy said the business was announcing decisive actions to simplify the group.
“In the energy sector we are building a unique, multi-energy, sustainable business focused on supporting our customers with their energy transition. Our strategy will deliver strong profit growth, high returns and a significant reduction in our customers carbon emissions,” he said.