Green Energy Network UK has bought the energy branch of Burgo Energia.
The Italian independent electricity and gas supplier, which operates in the UK, will acquire the smaller energy firm on the 28th of June 2018, subject to the relevant authorisations.
The energy branch of Burgo Energia was expected to generate earnings of around €2 billion (£1.76bn) in 2018 before the deal was announced.
It handles a client portfolio of approximately 8,000 small and medium-sized businesses and sells a volume of approximately 1TWh of electricity and 50 million cubic meters of gas each year.
The firm’s business is primarily focused in Italy.